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chl
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Attainable correlations for lognormals

For $X_j$'s : $log(X_1)\sim N(0,1),log(X_2)\sim N(0,\sigma^2)$

I'm trying to calculate $\rho_{max}$ and $\rho_{min}$ for $\rho (X_1,X_2)$. One step in the given solution I have is:

$\rho_{max}=\rho (exp(Z),exp(\sigma Z))$ and $\rho_{min}=\rho (exp(Z),exp(-\sigma Z))$

but they've made some references to comonotonicity and countercomonotonicity. I was hoping someone help me understand how they're relevant. (I know how to get this from the general expression but want to know specifically what the comonotonicity parts were saying.)

Pk.yd
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