OPEN-SOURCE SCRIPT
Actualizado Asset Correlation Tool
Correlation amongst assets is the degree to which they move in tandem.
Diversification is a technique for reducing risk. Most people tend to think this is achieved simply by investing in a variety of assets instead of just a few. This is wrong.
Proper diversification is achieved when you reduce the correlation between the assets in your portfolio.
0.5 to 1.0: Strong positive correlation
Around 0: Little to no correlation
-0.5 to -1.0: Strong negative correlation
Took a few hours to build this one. Later I will add an index for crypto (large cap) and I'll play around with different ways of presenting the data.
If you have any requests or ideas please shoot
Diversification is a technique for reducing risk. Most people tend to think this is achieved simply by investing in a variety of assets instead of just a few. This is wrong.
Proper diversification is achieved when you reduce the correlation between the assets in your portfolio.
0.5 to 1.0: Strong positive correlation
Around 0: Little to no correlation
-0.5 to -1.0: Strong negative correlation
Took a few hours to build this one. Later I will add an index for crypto (large cap) and I'll play around with different ways of presenting the data.
If you have any requests or ideas please shoot
Notas de prensa
Correlation amongst assets is the degree to which they move in tandem. This indicator measures correlation between different assets. Why is that important? To any investor diversification is a very important technique for reducing risk. The problem is that most misunderstand it. Most people tend to think diversification is achieved simply by investing in a variety of assets instead of just a few.
This is wrong.
The whole point of diversification is to be invested in assets with different growth drivers. A portfolio consisting of +20 highly correlated assets (Your cryptobags, probably) is the OPPOSITE of diversification.
Proper diversification is achieved when you reduce the correlation between the assets in your portfolio.
0.5 to 1.0: Strong positive correlation
Around 0: Little to no correlation
-0.5 to -1.0: Strong negative correlation
Took a few hours to build this one. It would be super helpful if you can take a look at the index I used - I'm convinced there are better and more accurate methods to this one. But best I could come up with
Later I will evolve this one to an oscillator that measures the relation between cross coin correlations and volatility. Inspired by some great work by cryptorae
If you have any requests or ideas please shoot
Updates v0.2
- Added altcoin index
- Changed some calculations
- Restructed code
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La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.