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You may use the Explorer to find stocks that meet your criteria in
Correlation analysis. You must decide what the criteria is. Please
understand I do not use Correlation analysis in my trading so I am not
recommending any parameters. But, for example:
Place this in your filter: Correl(P ,C ,x ,x ) >.5 and only those
issues whose correlation is greater than .5 will be found. The x's
indicate the time and shift parameters you must select. P is the
independent variable and C is the dependant variable.
You may also want to simply place the Correl(P ,C ,x ,x ) in a column
which will show you the exact correlation of each issue you explore.
To make this work, you must open a chart of the S&P, or whatever index
you wish to use and then select it. When you select it it will have
"handles" on the ends of the plot. Run the exploration and the list of
issues will be those that have a greater than 50% correlation.
Again, select your own parameters.
Equis Support
-----Original Message-----
From: A.J. Maas [mailto:anthmaas@xxxxxx]
Sent: Sunday, August 23, 1998 4:59 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Correlation Coefficient
As Equis(Support guys and gals) are watching the List hope they can jump
in this accurate question and provide its users with the missing manual
pages
on this subject as an Exploration.
As an Indicator by itselve it is possible. But to my knowledge, this is
NOT possible
in an Exploration.
Though the manual(MS65-p.431) says that it is, I asume it meant this as
in a
standard indicator using 2 price plots or using the indicator within a
Composites
Chart(MS65-p.151).
A spinn-off workaround can be made by using Tip 5(Exploration
Tips(MS65-p.364))
and then when finished exploring, in the report, to RANK(descending way
down)
using the Sort button or to click on the horizontal bar right above
results first listed sec.
Another work-around can be made by OLE linking the Correlation Indicator
form a chart to Excel. Very time and handling and safety procotions
consuming though.
This will give you instant view and results of ALL of your securities,
if required daily
updated as you go along in future/time as well.
A futher solution(but also quite time and handling consuming) is to
"manualy"
COPY and PASTE Exploration results to Excel or when looking at a chart
to
right click the Corr-Indicator and do a COPY and PASTE to Excel.
These will give you the results ONLY PER ONE single security, hate to
think you have
to do this on 500 secs.
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
-----Oorspronkelijk bericht-----
Van: CMA <cma6@xxxxxxxxx>
Aan: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Datum: zondag 23 augustus 1998 0:47
Onderwerp: Correlation Coefficient
>I would like to calculate the correlation coefficient (vs. S&P 500)
>for a number of stocks in an Exploration.
>Is that possible in ver. 4.5 or 6.0?
> CMA
>
>
>
>
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