Oasis Trading Group: Correlation Table

The Correlation Table is an indicator that is used to measure the Correlation Coefficient of multiple assets at the same time in an easy to read table.

A quick introduction into reading a Correlation Coefficient:

A strong positive correlation (one asset moves in one direction the other asset also moves in the same direction) = +1.00
A strong negative correlation (one asset moves in one direction the other asset moves in the opposing direction) = -1.00

Typically you would like to see the correlation strength to be greater than 0.7 or less than -0.7 for there to be a tradable correlation. A reading close to zero would not offer optimal trade entries.

The other data the indicator is showing is the overall trend. This reading is a simple calculation based on the correlation length the user inputs, the indicator will determine if price action is trending up or down based on this length.

The indicator has a reading for the current timeframe that is on the chart and also a second timeframe which is defaulted to the daily.

This indicator is an add-on to the and I hope to have more updates coming soon.

For Access or Questions: Private message us. Thank you.