The correlation coefficient between stocks depends on price history and includes information on hierarchical structures in financial markets. It is useful for portfolio selection and estimation of risk. I introduce the Lifetime of Correlation between stocks prices to know how far we should investigate the price history to obtain the optimal durability of correlation. The research is carried out on the DJIA, DAX and WIG portfolios. The differences between emerging (Poland) and established markets (in the USA and Germany) are also discussed.

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