Relevance Analysis
Author: tradercn
Creation Date: 11/27/2011 9:10 PM
profile picture

tradercn

#1
Is there any indicator used for relevance analysis? For example, I want to tell how many days the stock up or down with the index at the same direction in the last 30 days. Thanks.
profile picture

Cone

#2
How about Correlation or CorrelationXL from the Community.Indicators extension?
profile picture

tradercn

#3
Thanks, Cone.
I tried these indicators, there are two questions.
1, Correlation are used to compare two dataseries, but which two dataseries are compared? and how to set them by plotting indicators with drag and drop please?
2, In the CorrelationXL description, it says it matches Excel's output. I don't understand. Could you explain it?
Thanks again for your help.
profile picture

Eugene

#4
QUOTE:
1, Correlation are used to compare two dataseries, but which two dataseries are compared?

For example, your stock's Close price vs. the index's Close price retrieved using GetExternalSymbol(...).Close.
QUOTE:
and how to set them by plotting indicators with drag and drop please?

It will be available in code-based Strategies only.
QUOTE:
2, In the CorrelationXL description, it says it matches Excel's output. I don't understand. Could you explain it?

It means that the numbers are designed to be identical with Excel's CORREL (or is it PEARSON?) function.
profile picture

tradercn

#5
Thank you so much, Eugene. :)