More than a correlation coefficient?

2022年9月7日

I am looking very close to NVDA for years and I am curious, that every time the market goes up, NVDA improves with a steeper angle than the index - at least very often. Of course, the same is true in the reverse direction :-), but nevertheless it looks like some kind of overpressure that makes me believe in this stock in the long run. I don't want to discuss the fundamental reasons, why I think there is still a bright future for NVDA, but it'll be my first project on TradingView to find the right indicator for this overpressure or to implement it. It relates somehow to volatility and together with the correlation coefficient it is a good starting point, but for me it doesn't visualize this kind of price pressure correctly. So let's see, what my first steps in Pine script will yield. Maybe another well-known indicator solves my problem immediately, but again, since I am new to the technical analysis of stock charts, I have no applicable indicator in mind and I first have to dig deeper into all these tools. Any help appreciated!