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# Plotting average of three correlation coefficients

Optuma Forums Optuma Scripting Plotting average of three correlation coefficients

This topic contains 2 replies, has 2 voices, and was last updated by  Prashant 9 months, 3 weeks ago.

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• #47771

Prashant
• Topics: 2
• Replies: 1
• Posts: 3

I have 4 indices – Nifty50, Nifty Midcap 100, Nifty smallcap 100, Nifty 500
​Correl1 = Correl(Nifty50, Nifty 500)
​Correl2 = Correl(Nifty Midcap 100, Nifty 500)
​Correl3 = Correl(Nifty smallcap 100, Nifty 500)
​Avg Correl = (Correl1 + Correl2 + Correl3)/3
​I want to plot the Avg Correl.

#47779

Darren
• Topics: 36
• Replies: 211
• Posts: 247

Hi Prashant,

Your best option is to open a Script Chart for NIFTY500 and then use this formula to plot the average 100 day correlation:

The current value is 0.39, which is the average of the tools when plotted on the chart:

#47787

Prashant
• Topics: 2
• Replies: 1
• Posts: 3

Thanks a lot Darren. Appreciate your quick reply. It helped

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