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correl

CORREL​

Type: correl • Category: indicators

Description​

Pearson correlation coefficient

Parameters​

NameTypeDescriptionRequiredDefault
real0stringFirst data seriesno
real1stringSecond data seriesno
timeperiodnumberno30

Help​

CORREL

Description​

The CORREL worker calculates the Pearson correlation coefficient between two data series. This indicator is commonly used in financial markets to measure the correlation between two assets or market indices.

What does this worker do?​

The CORREL worker takes two data series and a time period as input, and returns the Pearson correlation coefficient between the two series over the specified time period. The Pearson correlation coefficient measures the linear relationship between two variables, ranging from -1 (perfect negative correlation) to 1 (perfect positive correlation), with 0 indicating no correlation.

How to interpret the results​

The CORREL worker returns a value between -1 and 1, which can be interpreted as follows:

  • A value close to 1 indicates a strong positive correlation between the two data series.
  • A value close to -1 indicates a strong negative correlation between the two data series.
  • A value close to 0 indicates no correlation between the two data series.

Parameters​

The CORREL worker takes the following parameters:

real0​

  • Type: string
  • Description: First data series

real1​

  • Type: string
  • Description: Second data series

timeperiod​

  • Type: number
  • Default: 30
  • Description: Time period over which to calculate the correlation

Example Usage​

{
  "real0": "data_series_1",
  "real1": "data_series_2",
  "timeperiod": 30
}

Note that the actual usage may vary depending on the specific implementation and data format.