Correlation Coefficient & Coefficient of Determination
Measures the correlation between 2 assets, along with the coefficient of determination of the average of 200 candles. By default, 2 correlations are presented but only 1 with a coefficient of determination (default 200).
Default assets are XBTUSD and SPX
A value of 1 for R(200) gives a strong linear correlation between 2 assets
A value of 0 for R(200) suggests no linear correlation
A value of -1 for R(200) suggests a negative linear correlation between 2 assets
A coefficient of determination (R2) of 1 suggests confidence in the variability of the response data around mean.
A coefficient of determination (R2) of 0 suggests no confidence in the variability of the response data around mean.
Default assets are XBTUSD and SPX
A value of 1 for R(200) gives a strong linear correlation between 2 assets
A value of 0 for R(200) suggests no linear correlation
A value of -1 for R(200) suggests a negative linear correlation between 2 assets
A coefficient of determination (R2) of 1 suggests confidence in the variability of the response data around mean.
A coefficient of determination (R2) of 0 suggests no confidence in the variability of the response data around mean.
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