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The call and necessary data for the indicator is
Correl(DataArray, DataArray, Periods, Shift)
>From The Help Files:
The purpose of correlation analysis is to measure the relationship
between two variables. This relationship is called the "correlation
coefficient."
The correlation coefficient ranges between ±1.0. A coefficient of
+1.0 is a perfect positive correlation and -1.0 is a perfect negative
correlation. Two variables with no relationship will have a
coefficient of zero.
Before attempting to plot the Correlation indicator, you must first
select two plots. This could be two price plots, an indicator and a
price plot, or two indicators. The first plot selected will be the
independent variable and the second, the dependent variable.
The parameters for the Correlation indicator are shown below. These
parameters are specified at the time the indicator is plotted. You
can edit the parameters of an existing plot by right-clicking on the
indicator and choosing Properties from the shortcut menu.
Time Periods. This parameter specifies the number of time periods
that are used to "smooth" the dependent and independent variables
when determining their correlation.
Forward Shift. This parameter specifies the number of time periods
to shift the independent variable's data forward. This can be used
to determine whether a change in an indicator (the independent
variable) "leads" a change in prices (the dependent variable). For
example, if you find that an indicator has a high positive
correlation to the security's price when shifted forward three
periods, you may assume that a change in the indicator today will
predict a change in the security's price three periods from now.
--- end ----
I'm sorry to say that I have seldom used the indicator.
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "megaselectionmall"
<reminiscenostalgia@xxx> wrote:
>
> hi preston,
>
> used correl(C,P,0) in colA of explorer and then click on the base
> security and add other securities but the result seems to return
> errors in many securities. u have any problem with this formula?
>
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