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I placed a new script in the Specialty Scripts folder that calculates Pearson's R and Coefficient of Determination between 2 symbols.
Link is here:
Specialty Scripts
It can be used to find symbols that have strong positive or negative correlations for pairs trading or it can simply be used to correlate a symbol against a particular index.
Will follow with a Spearman Ranking Correlation script shortly which is just another way to skin the same cat.
Chris
Link is here:
Specialty Scripts
It can be used to find symbols that have strong positive or negative correlations for pairs trading or it can simply be used to correlate a symbol against a particular index.
Will follow with a Spearman Ranking Correlation script shortly which is just another way to skin the same cat.
Chris
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