how do you quickly find CORRELATION

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darwin666

say for example you hold USO and u are also long RIG

we know RIG is long OIL also..

so they are correlated... and if I have 20-30 different ones and now want to add some which are negitively correlated.. be it any which is being actively traded..

I hope I am able to express my dilemma. .

is there a website where you can input a series of stocks and it spits out a matrix where you can see correlation
 
Quote from darwin666:

WOW ... THANKS A LOT.. this is AWESOME...

will tell me.. ha ha.. when I have 2 equities.. if I am going on a roller coaster ride. or NOT... HA HA..
More...

Sure, if you really want equities I think some of the pairs trading software are much more sophisticated for correlation. I just like to watch USD vs. everything else.
 
Correlation or ven cointegration won't help you make any money in the longer term. To make money you must assume plain vanilla risk.

The difference between 0.98 and 0.99 can be what ruins an account.
 
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