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Correl 1


Function - CORREL
CORREL
Correlation Analysis

Indicators


SYNTAX Correl( ARRAY array, ARRAY timeperiod)
RETURNS NUMERIC ARRAY
DESCRIPTION Correlation Analysis
ADDITIONAL INFO Correlation Analysis compares two array or two samples of data to show you if one sample of data can predict the other.
You can analyse coorelation between a stock against another stock or a stock against an indicator...
Coorrelation between an indicator and a stock.
A value above +0.7 tell you that a change in the indicator will usually predict a change in the security's price.
A value below -0.7 tell you that a change in the indicator will usually predict a move of the stock price in the opposite direction.
A value near 0 tell you that there is no relationship between the security's price and the indicator.
EXAMPLE Correl(close, 100)



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