OPEN-SOURCE SCRIPT
已更新 Correlation Meter

This script calculates the covariance and correlation coefficient between two markets using arrays.
Lookback: How many bars to perform the calculation on.
Source: Price source to calculate the correlation on.
Reference Market: The reference market to compare to the current market.
It's a simple indicator, but very useful for determining how correlated your preferred markets to trade are.
A correlation reading of +1.0 means the markets are perfectly positively correlated, a reading of -1.0 means they are perfectly negatively correlated.
If you're not sure what correlation & covariance are then Google the terms with "Investopedia" added to the end - they have some great definitions and examples.
For traders this can be useful for deciding how much risk to spread across two markets that have a high correlation, or how to hedge existing positions by trading a negatively correlated market.
For investors this can be useful for building a truly diversified portfolio.
If a market has a high positive correlation, the black line will stay above zero most of the time. If a market has a high negative correlation, the black line will stay below zero most of the time.
A market with no or little correlation will bounce between the two or hover around zero most of the time.
The example market above is comparing Apple's weekly price action to the S&P500's over the past 20 weeks. It has a high positive correlation as the black line is above zero most of the time.
Good luck with your trading!
Lookback: How many bars to perform the calculation on.
Source: Price source to calculate the correlation on.
Reference Market: The reference market to compare to the current market.
It's a simple indicator, but very useful for determining how correlated your preferred markets to trade are.
A correlation reading of +1.0 means the markets are perfectly positively correlated, a reading of -1.0 means they are perfectly negatively correlated.
If you're not sure what correlation & covariance are then Google the terms with "Investopedia" added to the end - they have some great definitions and examples.
For traders this can be useful for deciding how much risk to spread across two markets that have a high correlation, or how to hedge existing positions by trading a negatively correlated market.
For investors this can be useful for building a truly diversified portfolio.
If a market has a high positive correlation, the black line will stay above zero most of the time. If a market has a high negative correlation, the black line will stay below zero most of the time.
A market with no or little correlation will bounce between the two or hover around zero most of the time.
The example market above is comparing Apple's weekly price action to the S&P500's over the past 20 weeks. It has a high positive correlation as the black line is above zero most of the time.
Good luck with your trading!
發行說明
Updated to Pine Script v5發行說明
Updated to v6 pine script開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
My Resources Hub: theartoftrading.com
FREE YouTube Lessons: rebrand.ly/zyt
FREE Pine Script Basics Course: rebrand.ly/zpsbc
Pine Script MASTERY Course: rebrand.ly/zpsmc
My Indicators & Strategies: rebrand.ly/zmisc
FREE YouTube Lessons: rebrand.ly/zyt
FREE Pine Script Basics Course: rebrand.ly/zpsbc
Pine Script MASTERY Course: rebrand.ly/zpsmc
My Indicators & Strategies: rebrand.ly/zmisc
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
My Resources Hub: theartoftrading.com
FREE YouTube Lessons: rebrand.ly/zyt
FREE Pine Script Basics Course: rebrand.ly/zpsbc
Pine Script MASTERY Course: rebrand.ly/zpsmc
My Indicators & Strategies: rebrand.ly/zmisc
FREE YouTube Lessons: rebrand.ly/zyt
FREE Pine Script Basics Course: rebrand.ly/zpsbc
Pine Script MASTERY Course: rebrand.ly/zpsmc
My Indicators & Strategies: rebrand.ly/zmisc
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。