mabonyi

Asset Correlation Tool v3, improved

I found this useful tool among the indicators but it wasn't doing the correlation study correctly.

Everything in markets, with only a few exceptions, are rising in value over time and therefore trended to time. The simplest method I found is to use link relative or first difference detrending, before calculating a correlation between assets.

I also updated it to include more assets, to use the latest Cryptocap indices like BTC .D/ETH.D/TOTAL2 and the top 100 crypto index CIX100 . I improved the colour schemes, too

Included in the source code are some other ideas like the FRED:M1 and FRED:M2 (only on daily charts ), the Yuan/Yen/EUR/USD, etc. There's lots of scope for correlating unrelated markets.

I'll keep updating it as I use it to find truly correlated assets. Some kind of signal line of known correlations, to subtract from the baseline fuzz of market activity.

Any improvements are most welcome; I'm a novice at best at statistics and build on others' work.

- mabonyi
Jun 21
Catatan Pelepasan: Changed to first differences as the default. I already replaced circles with lines, to more clearly see the differences. Small transparency to make it legible.
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