CORREL

Type: correl • Category: indicators

Description

Pearson correlation coefficient

Parameters

Name	Type	Description	Required	Default
real0	string	First data series	no
real1	string	Second data series	no
timeperiod	number		no	30

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.