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I would like to determine the correlation coefficients of two timesets of data with unequal entries to detemine how often they move together. I am performing the following computation but would like input on the effectiveness of my method and how this may be improved.

I seek to determine the correlation between two sets of data. For example:

       dataset1                  dataset2 [ timestamp | value ]  |  [timestamp | value ]    8:00:00     10           8:00:00      3    8:00:01     7            8:00:03      4    8:00:02     2            8:00:04      12    8:00:03     7            8:00:05      7    8:00:04     10           8:00:07      9 ...    9:43:00     10           9:43:01      3 

Then I perform a standard Person Correlation Coefficient:

CORREL(dataset1.values, dataset2.values) 

Which provides me with a correlation coefficient. Because of the nature of pearson's correlation coefficient, I am not sure that this coefficient is providing an accurate representation of how each data point in the series moves together second-to-second.

Any feedback on my methods are appreciated. Thank you!

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