Oscillator From Correlation Data

Optuma Forums Optuma Scripting Oscillator From Correlation Data

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  • #68123
    Louis
    • Topics: 33
    • Replies: 55
    • Posts: 88

    Hi,

    I have a watchlist of the 11 S&P 500 sectors. I have a scripted column calculating the 10-day correlation to SPY.

    Above this column, I have a summary row showing the average. Please see picture 1. That average value, highlighted in yellow, is what I want to plot on a daily basis as a tool under a chart.

    I have tried a few things, including the following, which did not work:

    Thank you.

    #68127
    Darren
    • Topics: 70
    • Replies: 790
    • Posts: 860

    Hi Louis,

    The only way to get average watchlist statistics is to create a custom breadth measure under Data > Market Breadth. Use the one line CORREL() formula and run it on the S&P 500 Sector ETFs symbol list, with the Breadth Action set to Average.

    The current value, is 0.90 which matches your watchlist summary row. It makes for some interesting correlation cycles:

    Capture

    #68129
    Louis
    • Topics: 33
    • Replies: 55
    • Posts: 88

    Thanks Darren. Its working perfectly now.

    1 user thanked author for this post.
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