Synergy
This indicator was developed for use in an investigation/tutorial using Pine Script to analyse Gold and US Dollar Index correlation.
The first indicator shall measure the percentage change between the open and close of each bar and compare it to the same percentage change of an alternative asset. Additionally, we shall color the background when the two...
Hi everyone!
This tool helps to identify the best positive and negative correlated pairs from 38 well-known Forex pairs.
By default it will find the best correlations for your current ticker.
If you are a newbie in Correlation Analysis you can find a brief explanation here .
Settings
Lookback for correlations (default: 14 )
Option to use or not to...
Hey there!
This tool helps to identify the best positive and negative correlated pairs from 38 crypto */USD pairs.
By default it will find the best correlations for your current ticker.
If you are a newbie in Correlation Analysis you can find a brief explanation here .
Settings
Lookback for correlations (default: 14 )
Option to use or not to use...
Hey there!
This tool helps to identify the best positive and negative correlated pairs from 38 */ETH cryptocurrency pairs.
By default it will find the best correlations for your current ticker.
If you are a newbie in Correlation Analysis you can find a brief explanation here .
Settings
Lookback for correlations (default: 14 )
Option to use or not to...
Hey there!
This tool helps to identify the best positive and negative correlated pairs from 38 */BTC cryptocurrency pairs.
By default it will find the best correlations for your current ticker.
If you are a newbie in Correlation Analysis you can find a brief explanation here .
Settings
Lookback for correlations (default: 14 )
Option to use or not to...
Hello traders!
This tool shows you the correlation between well-known stock market indices and selected instrument. Also it has customizable alerts for the strong positive and negative correlations.
What are correlation and correlation coefficient?
Correlation is a term from mathematical statistics that describes the strength of linear relationship between the...
Computes the partial correlation between 2 symbols while removing the influence of a third.
Ex.:
Computes the correlation between AAPL and AMZN while removing the influence of SPX.
Hi everyone, Although everything's clear from the title but I should describe some basic points.
Currency Correlation is a statistical measure of how two securities move in relation to each other.
So this script is used to show if current pair (alt-coins) is moving in the same direction of bitcoin (or ethereum) or not. Consider that in crypto market most of...
A utility tool to find linear relationships between major forex pairs and specified symbol.
Features
30 well known forex pairs (Pine Script has its limits and incomprehensible "study" errors)
Ability to specify any symbol to see correlations
Ability to specify a preferred timeframe
Ability to specify correlation lookback
Ability to specify...
A utility tool to find linear relationships between major cryptocurrency pairs and specified symbol.
Features
31 well known cryptocurrency pairs (Pine Script has its limits and incomprehensible "study" errors)
Ability to specify any symbol to see correlations
Ability to specify a preferred timeframe
Ability to specify correlation lookback
Ability...
Correlation amongst assets is the degree to which they move in tandem. This indicator measures correlation between different assets. Why is that important?
To any investor diversification is a very important technique for reducing risk. The problem is that most misunderstand it. Most people tend to think diversification is achieved simply by investing in a...
Correlation amongst assets is the degree to which they move in tandem.
Diversification is a technique for reducing risk. Most people tend to think this is achieved simply by investing in a variety of assets instead of just a few. This is wrong.
Proper diversification is achieved when you reduce the correlation between the assets in your portfolio.
0.5 to...
Conceptual indicator based on trying to find an inverse correlation between bitcoin and traditional markets due to bitcoin's usefulness as a hedge against economic downturns.
How to use this script: you look at it and see if there is a correlation or not between bitcoin/Ethereum price and either U.S. stock CVi, buy volume, sell volume, calls, puts, or the call/put ratio.
A multitool to find seasonal effects and components in your time series. Seasonality is one of most frequently used statistical patterns to improve the accuracy of demand forecasts.
To learn more about seasonality see:
en.wikipedia.org
www.investopedia.com
Features
Ability to see up to 16 period lines
33 metric types
Metrics...
Kendall Rank Correlation Coefficient script.
This way to measure the ordinal association between two measured quantities described by Maurice Kendall (1938, Biometrika, 30 (1–2): 81–89, "A New Measure of Rank Correlation").
In this script I compare Kendall Coefficient and Pearson Coefficient (using built-in "correlation" function).
this script by RichardoSantos
description
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Power oscillator to discern what currency's are stronger/weaker.
added option to use a smoothed source(close) for pooling the change, giving longer term directional bias, note that this causes lag in the results as MA's turn slower than price.
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I added currency labels and changed line color only.
A utility tool to find linear relationships between different currency pairs and
specified symbols. This is another private indicator of mine.
Features
37 well known Forex pairs
3 correlation display modes ( Positive and Negative , Positive , Negative )
Ability to specify any symbol to see correlations
Ability to specify a preferred timeframe
...
![XRPUSD: Crypto Correlation Matrix Series [SHK]](https://s3.tradingview.com/8/8njpx9ne_mid.png "Crypto Correlation Matrix Series [SHK]")
![BTCUSD: U.S. Stocks & Options CVI to Bitcoin Correlation [NeoButane]](https://s3.tradingview.com/d/dRbyvCr8_mid.png "U.S. Stocks & Options CVI to Bitcoin Correlation [NeoButane]")
