Correlation Coefficient (CC)

Correlation of Returns | NickJoan Correlation of Returns | NickJoan Core Idea Correlation of Returns measures how closely the chart symbol and a selected comparison symbol move together over time. Unlike traditional correlation indicators that compare raw price levels, this script calculates the correlation between logarithmic returns. This focuses on the relationship between the assets’ periodic movements rather than their absolute prices. The indicator is useful for studying: • Market co-movement. • Diversification. • Hed

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Correlation Multi-Timeframe Correlation Indicator This Pine Script indicator measures the correlation between the current symbol and a reference symbol (default: GLD) across three different timeframes. It provides traders with valuable insights into how assets move in relation to each other over short, medium, and long-term periods. Key Features Multiple Timeframe Analysis: Calculates correlation coefficients over three customizable periods (default: 20, 50, and 200 bars) Visual Reference Lines: Dis

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Correlation Table This indicator displays a vertical table that shows the correlation between the asset currently loaded on the chart and up to 32 selected trading pairs. It offers the following features: Chart-Based Correlation: Correlations are calculated based on the asset you have loaded in your chart, providing relevant insights for your current market focus. Configurable Pairs: Choose from a list of 32 symbols (e.g., AUDUSD, EURUSD, GBPUSD, etc.) with individual checkboxes to include or exclude each pair

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by Raffaele_De_Leo

Cross-Asset Correlation Trend Indicator Cross-Asset Correlation Trend Indicator This indicator uses correlations between the charted asset and ten others to calculate an overall trend prediction. Each ticker is configurable, and by analyzing the trend of each asset, the indicator predicts an average trend for the main asset on the chart. The strength of each asset's trend is weighted by its correlation to the charted asset, resulting in a single average trend signal. This can be a rather robust and effective signal, though it is oft

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by nathanfarmer

Symbol Correlation The "Symbol Correlation" indicator calculates and displays the correlation between the chosen symbol's price and another selected source over a specified period. It also includes a moving average (SMA) of this correlation to provide a smoothed view of the relationship. Why SMA and Table Display ? The inclusion of SMA (Simple Moving Average) with adjustable length (SMA Length) enhances the indicator's utility by smoothing out short-term fluctuations in correlation, allowing for clearer trend i

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Historical Correlation [LuxAlgo]The Historical Correlation tool aims to provide the historical correlation coefficients of up to 10 pairs of user-defined tickers starting from a user-defined point in time. Users can choose to display the historical values as lines or the most recent correlation values as a heat map. 🔶 USAGE This tool provides historical correlation coefficients, the correlation coefficient between two assets highlight their linear relationship and is always within the range (-1, 1). It is a simple

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Cross Correlation [Kioseff Trading]Hello! This script "Cross Correlation" calculates up to ~10,000 lag-symbol pair cross correlation values simultaneously! Cross correlation calculation for 20 symbols simultaneously +/- Lag Range is theoretically infinite (configurable min/max) Practically, calculate up to 10000 lag-symbol pairs Results can be sorted by greatest absolute difference or greatest sum Ability to "isolate" the symbol on your chart and check for cross correlation against a list of symbols Script defaults

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by KioseffTrading

Autocorrelation - The Quant Science Autocorrelation - The Quant Science it is an indicator developed to quickly calculate the autocorrelation of a historical series. The objective of this indicator is to plot the autocorrelation values and highlight market moments where the value is positive and exceeds the attention threshold. This indicator can be used for manual analysis when a trader needs to search for new price patterns within the historical series or to create complex formulas in estimating future prices. What is

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by thequantscience

Correlation Tracker Correlation Tracker Indicator The Correlation Tracker indicator calculates and visualizes the correlation between two symbols on a chart. It helps traders and investors understand the relationship and strength of correlation between the selected symbol and another symbol of their choice. Indicator Features: - Correlation Calculation: The indicator calculates the correlation between two symbols based on the provided lookback period. - Correlation Scale: The correlation value is normalized to a

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Correlation Coefficient - DXY & XAU Publishing my first indicator on TradingView. Essentially a modification of the Correlation Coefficient indicator, that displays a 2 ticker symbols' correlation coefficient vs, the chart presently loaded.. You can modify the symbols, but the default uses DXY and XAU, which have been displaying strong negative correlation. As with the built-in CC (Correlation Coefficient) indicator, readings are taken the same way: Positive Correlation = anything above 0 | stronger as it moves up toward

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by dudebruhwhoa

MA Correlation Coefficient This script helps you visualize the correlation between the price of an asset and 4 moving averages of your choice. This indicator can help you identify trendy markets as well as trend-shifts. Disclaimer Bear in mind that there is always some lag when using Moving-Averages, hence the purpose of this indicator is as a trend identification tool rather than an entry-exit strategy. Working Principle The basic idea behind this indicator is the following: In a trendy market you will find hi

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Crypto Correlation Matrix A crypto correlation matrix or table is a tool that displays the correlation between different cryptocurrencies and other financial assets. The matrix provides an overview of the degree to which various cryptocurrencies move in tandem or independently of each other. Each cell represents the correlation between the row and column assets respectively. The correlation matrix can be useful for traders and investors in several ways: First, it allows them to identify trends and patterns in the behav

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Correlation Coefficient Table This is a sample PineSript code implementation using Correlation Coefficient. It uses the ta.correlation library of Pinescript and calculates the correlation based on user input length. The results are then plotted on a table. The corr value displays the actual correlation coefficient value while the Corr Status displays the interpretation of the correlation coefficient values. The script takes the following input Source Symbol - This is the base symbol which will be used in calculatin

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Bitcoin Correlation Map Hello everyone, This indicator shows the correlation coefficients of altcoins with bitcoin in a table. What is the correlation coefficient? The correlation coefficient is a value that takes a value between 0 and 1 when a parity makes similar movements with the reference parity, and takes a value between 0 and -1 when it makes opposite movements. In order to obtain more meaningful and real-time results in this indicator, the weighted average of the correlation values of the last 200bar was used.

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Correlation Coefficient: Visible Range Dynamic Average R -Correlation Coefficient with Dynamic Average R (shows R average for the visible chart only, changes as you zoom in or out) -Label: Vis-Avg-R = Visable Average R -the Correlation Coefficient function for Pearson's R is taken from "BA🐷 CC" indicator by @balipour (highly recommended; more thorough treatment of R and other stats, but without the dynamic average) -I wrote this primarily to add a dynamic Average R, showing correlation for arbitrary start times/end times; whether it be the last month,

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Multi Delta-Agnostic Correlation Coefficient (tartigradia)Display three DACC plots simultaneously, to visualize both directional (up on top, down at bottom) and adirectional DACC (in the middle) simultaneously. Delta Agnostic Correlation calculates a correlation between two symbols based only on the sign of their changes using a Sign Test (en.m.wikipedia.org), regardless of the amplitude of price change. Compared to a standard Pearson correlation (quantitative test), Sign Test correlations (discrete test) are highly sensitive to directional change with

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Correlation Zones This indicator highlights zones with strong, weak and negative correlation. Unlike standard coefficient indicator it will help to filter out noise when analyzing dependencies between two assets. With default input setting Correlation_Threshold=0.5: - Zones with correlation above 0.5, will be colored in green (strong correlation) - Zones with correlation from -0.5 to 0.5 will be colored grey (weak correlation) - Zones with correlation below -0.5 will be colore red (strong negative correlation) In

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Kendall Rank Correlation Coefficient (alt)This is a non-parametric correlation statistical test, which is less sensitive to magnitude and more to direction, hence why some people call this a "concordance test". This indicator was originally created by Alex Orekhov (everget), if you like this one, please show the original author some love: This version is extended by tartigradia (2022) to make it more readily useable: * Update to pinescript v5 * Default compare to current symbol (instead of only fixed symbols) * Add 1.0, 0.0 and -1.0

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Correlation with P-Value & Confidence Interval (alt)Shows the Pearson correlation between two symbols, including statistical significance test. This is a fork of the original script by Balipour, with the addition of EMA that can be used instead of SMA in the Pearson correlation as an attempt to capture correlation trend changes more quickly, and conversion to pinescript v5. In the end, the EMA does not help much, for a faster capture of correlation trend changes, another kind of correlation is necessary, such as sign test correlation (another on

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Delta-Agnostic Correlation Coefficient (alt)Calculate a sort of correlation between two symbols based only on the sign of their changes, regardless of the amplitude of price change. When positive, the two symbols tend to move together. When negative, the symbols move in opposite directions. Since there is no significance calculation, and that the result is binary, keep in mind that correlation will always tend to go towards 1 or -1 even when there is no correlation. To reduce this issue, an EMA or SMA is applied to smooth out transition

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Normalized Correlation Coefficient This is a normalized correlation coefficient that can be used with any timeframe or symbol desired (found in the indicator settings). The normalization function makes the coefficient bound between 0-1. There is a subjective threshold at 0.80 where anything below the threshold tends to be higher risk in trading as opposed to above the threshold. Suggestions: - Use a timeframe slightly higher than your current chart for optimal results. - Do not use as a standalone strategy, rather, use it as a

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Greater Currency Correlation Matrix (Forex)Other available matrixes I found have a limited number of forex symbols. Consequentially, you need to keep switching them if you want to do a proper analysis. As a result of that, I produced my own currency matrix. Correlation studies relationships between different price charts. High correlation may be completely random in the short term, but it may signify a fundamental relationship between the two symbols if calculated over the long term. For example, the currency of an oil-producing count

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by OrcChieftain

Swing Comparator Here I bring you an array of methods to compare the swings and consistency between assets. This indicator is excellent for swing traders and scalpers looking to maximize their profits by examining which of two closely related pairs provides greater price fluctuation during given period. This indicator works against two assets, which are to be configured in settings. This indicator has 5 particular plots for you to examine, each which can be considered for you to contemplate which pair for

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Delta Agnostic Correlation Coefficient Visually see how well a symbol tracks another's movements, without taking price deltas into account. For example, a 1% move on the index and a 5% move on the target will return a DCC value of 1. An index move of 0.5% on the index and a 10% move on the target will also return a DCC value of 1. The same happens for downward moves. The SMA value can be set to smooth the curve. A larger value creates a smoother curve.

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