Stock Market Indices Correlations HeatmapHello traders!
This tool shows you the correlation between well-known stock market indices and selected instrument. Also it has customizable alerts for the strong positive and negative correlations.
What are correlation and correlation coefficient?
Correlation is a term from mathematical statistics that describes the strength of linear relationship between the variables (in our case: financial instruments).
Simply speaking, it describes whether or not instruments move in same/opposite directions.
Correlation coefficient is a statistical measure of the correlation and that is bounded in a range of -1 to 1. The most common calculation of the correlation coefficient is the Pearson product-moment method.
How to interpret?
The darker the color, the stronger the correlation
Green colors mean positive correlations
Red colors mean negative correlations
Transparent colors mean no correlation or absence of the symbol data
Supported indices
Russell 3000
Russell 2000
NASDAQ Composite
NYSE Composite
S&P 500
DJIA
SSE Composite
CSI 300
SZSE Composite
NIKKEI 225
HSI 50
DAX 30
FTSE 100
CAC 40
RTSI 50
S&P/TSX 500
S&P/ASX 200
BOVESPA 60
NIFTY 50
BSE 30
IBEX 35
FTSE MIB 40
SMI 20
ATX 20
OMXS 30
KOSPI 200
BIST 100
VN 30
I attach screenshots to show you how it works with other instruments.
How to get access
Buy for only 59$ to get lifetime access to this indicator
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Good luck and happy trading!
