Tool to group stock based on correlation ?

Sekiyo

Sekiyo

Hi,

Looking for a tool that would group stock based on correlation.

For example, I can enter up to 30 tickers into portfoliovisualizer.com
Then I get this correlation table between the different tickers.
upload_2022-12-7_20-31-44.png


We can see HL, FSM, AGI and AUY have a strong correlation (> 0.8)
So I'd like them to be grouped together.

There can be multiple groups.

Just trying to work out a thematic out of tickers themselves.
Sometimes website classifications are off the table.

These are actually Gold / Silver mining stocks,
But they might not be referenced as such.

This time it's well referenced in Finviz but it's not always the case.

upload_2022-12-7_20-39-2.png


I trust the market more than anyone's classification.

If you have an idea on how I can automate this,
Or if a tool, website or service already exist.

Input tickers without limitation,
Work out the correlation btw stonks,
Group them if there is a strong coefficient.

Thanks !
 
spy said:
Close, but no cigar? Looks like you might have to take "the easy way" ;)
More...

Not that close.

StockCorrelation.net is introducing extraneous stocks that correlate with the ticker.
Whereas I want to find commonalities among, within or inside a basket of know tickers.

Let's say I have ABC DEF GHI
Then I want to know if there is any commonalities btw those 3 (Correlation).

I don't want JKL that correlates with one of those 3.

"The easy way" is the sole and only way.

Portfoliovisualizer.com's tool is fine but I'd like to enhance it,
No ticker limitation (30) and Group by correlation + find a label (China, Biotech ..)

Thanks
 
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