Other Relative Value strategies can be applicable here 2 securities strongly correlated over 100 days but weakly/negatively correlated over last 10 days) can sometimes foreshadow reversals Useful in understanding market ripple effects of certain types of events Correlations are NOT good at identifying consistently leading/lagging trendsĬorrelations are used to find stocks that move together Strong negative correlation coefficient implies that the pair are generally moving in opposite directions (possible hedge?) Strong positive correlation coefficient implies that the pair are generally moving in the same direction together Near zero correlation coefficient implies that the pair are generally moving independent of each other (possible diversification?)
Quick Interpretation for any pair of securities: Strong Negative Correlations below -0.5 marked in red Strong Positive Correlations above 0.5 marked in green In Correlation Table, Pearson Correlations calculated between United States and others using daily returns over the most recent trading days Monthly tab correlations for each calendar month over the last year Trailing tab correlations over the last X trading days (X = 5, 10, 20, 50, 100) Correlations Tables between United States and other Indices, Stocks & ETF/ETN are organized as:.High Relative Correlations (as compared to the reference country) are in Green Low Relative Correlations (as compared to the reference country) are in Red Correlations are displayed with a reference country (which can be changed from the map)įor Correlation Map chart, countries are color coded on a relative scale, NOT absolute scale as follows: Technical Distribution : Sentiment using frequency distribution of S&P 500 stocks with bullish/bearish technical levelsĬorrelations examine the interconnections across various countries as represented by ETFs using daily returns over various time frames. Moving Average : Sentiment using frequency of S&P 500 stocks above key moving averages Highs/Lows : Sentiment using frequency of key highs/lows in S&P 500 stocks World Explorer : Performance & Correlation between key countries across the worldĪdvance/Decline : Sentiment using accumulated advances & declines in S&P 500 stocks Swing Volatility : Identifying stocks/etfs with elevated volatility Industry : Analyze & compare Industries within Sectorsīreakouts & Breakdowns : Identifying stocks/etfs which recently traded up/down in unusually elevated volumes Sector : Analyze & compare Sector performance Side-by-Side Comparison : Contrast with other assets over time in a side-by-side presentation Performance Comparison : Chart compare/benchmark performance with multiple assets over time Market Seasonality : Seasonal performance by calendar months across covered assets Market Technicals : Technical indicator levels across covered assets Historical Performance : Prior & Subsequent performance across assets on a historical date Market Performance : Recent performance across covered assets Snapshots : Popular lists of stocks & etfs (best streaks, most beaten down etc. Dashboard : Market Pulse using broad themes (e.g.
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