MT5 Pearson Correlation shows the correlation between symbols. This can be used by traders to identify when symbols that are usually correlated step away from each other. When this happens it often precedes a correction to one or both of the symbols.
- Symbol – Name of the second symbol, used for calculation of correlation;
- Period – Period;
- Price – Applied price;
- Min correlation – Gradient color for weak correlation;
- Max correlation – Gradient color for strong correlation.
- xi and yi – time series;
- n – number of data;
- σx and σy – standard deviations.