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Alpha#6

Type: alpha_6 • Category: indicators

Description​

Alpha#6 - indicator based on correlation between opening price and volume.

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprice datano
openstringselect the column with opening pricesno
volumestringselect the column with volumeno

Help​

Alpha#6

Description​

Alpha#6 is an indicator used in investing strategy, specifically in the 101 Formulaic Alphas. This indicator is based on the correlation between the opening price and volume of a stock.

What does this worker do?​

This worker calculates the correlation between the opening price and volume of a stock, providing a valuable insight into market trends.

How to interpret the results​

The results of this worker can be used to identify potential trading opportunities. A high correlation between the opening price and volume may indicate a strong market trend, while a low correlation may indicate a lack of trend.

Parameters​

The following parameters are required to use this worker:

  • dataExp: price data
    • Type: DataFrame
    • Description: The input price data
  • open: select the column with opening prices
    • Type: string
    • Description: The column name of the opening prices in the dataExp DataFrame
  • volume: select the column with volume
    • Type: string
    • Description: The column name of the volume in the dataExp DataFrame

Usage​

To use this worker, simply provide the required parameters and run the worker. The worker will calculate the correlation between the opening price and volume and return the results.

Visual Guide​

For a visual guide on how to use this worker, please refer to the following GIFs:

Full GIF Short GIF

Publication​

For more information on the 101 Formulaic Alphas, please refer to the publication by Zura Kakushadze:

[101 Formulaic Alphas](https://arxiv.org/pdf/1601.00991.pdf)