OPEN-SOURCE SCRIPT
Correlation Matrix
Returns a 4x4 correlation matrix between various user-selected symbols. Users can change the window of the correlation with the setting length.
Correlation matrices can be useful to see the linear relationship between various symbols, this is an important tool for diversification.
Correlation matrices can be useful to see the linear relationship between various symbols, this is an important tool for diversification.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
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