How to calculate the correlation coefficient?

thomas2004ch · 2018-06-06T06:03:21+00:00

From this URL I can use draw the Linear-Regression on a stock. But I wonder how to calculate its ‘correlation coefficient’? My purpose is to scan stocks with higher ‘correlation coefficient’ or smaller valatility. It seems there is no function called Correlation by ProRealCode?

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06/06/2018 at 7:03 AM #72405 quote

thomas2004ch
Participant

Senior

From this URL I can use draw the Linear-Regression on a stock. But I wonder how to calculate its ‘correlation coefficient’? My purpose is to scan stocks with higher ‘correlation coefficient’ or smaller valatility.

It seems there is no function called Correlation by ProRealCode?

06/06/2018 at 7:04 AM #72406 quote

thomas2004ch
Participant

Senior

Sorry, I forget the URL. Here it is:

Linear Regression Channel with percent upper and lower lines

06/06/2018 at 8:03 AM #72412 quote

Nicolas
Keymaster

Legend

You can try to use the R-squared instruction, it measures the error rate of the linear regression on selected price.

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06/06/2018 at 9:36 AM #72437 quote

thomas2004ch
Participant

Senior

Hi Nicolas,

Many thanks. But as I use the LinearRegression-Indicator posted in your URL above, I failt to see the lines for stock EHC. Why?

06/06/2018 at 10:14 AM #72443 quote

Nicolas
Keymaster

Legend

I don’t know. Do you have sufficient data for the chosen period of the channel? Did you change the percentage to test different settings?

06/06/2018 at 12:02 PM #72461 quote

thomas2004ch
Participant

Senior

Ok, I change the length from 100 to 20, then I can see it.

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How to calculate the correlation coefficient?

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This topic contains 5 replies,
has 2 voices, and was last updated by thomas2004ch
8 years, 3 months ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	06/06/2018
Status:	Active
Attachments:	No files