Hi; Can someone please help with a "correlation indicator" between two (2) securities?
Ideally it should provide a reading of 0, which would mean they are non-correlated or that the two move without any relationship to each other. The highest level 1.00, means perfect correlation or that the two instruments move in the same direction. A reading of -1.00 is a perfect inverse correlation meaning that the two instruments move in the opposite direction of each other. I wish to place it on the bottom of each chart to provide a correlation between equity shown and chosen index. Any assistance would be greatly appreciated!! Thank you in advance!!!!!
