Looks like JV was still not happy with Co-Relation Calculator. He wanted a more detailed breakdown.
Fine, here is the new Co-Relation Calculator, bigger and better. Major features are:
1. Not only it captures the percentage of movement direction (Green/Green, Red/Red, Green/Red, Red/Green), it also shows you the average % movement for both the tickers. Let me give you an example. Let’s try to find out how SFI relates with DJI between 9/1 and 10/19.
DJI SFI Relation
You can see that when DJI was green, SFI could be green around 60% of the times. But when DJI was Red, there is 85% chance that SFI will go red. Even more interesting is that when DJI was red, it went down by around 3.2%, whereas SFI tanked 18.2%! This is in contrast with the fact that when DJI moved up by 3%, SFI moved up by only 12.3%. So if market is going down, you might want to short SFI, your chances of success are higher.
2. Now you can press ENTER after any input (Ticker1, Ticker2, From/To Date) and it will trigger the calculation. This will help you quickly check a Ticker’s relation with Dow Jones.
3. I have created a permanent page for the tool. You will always find the latest version on that page.
That’s all for now. Let me know your suggestions or if you are able to use this tool to trade better.
Happy Trading,
RJ.
8 responses so far ↓
1 johnnyvento // Oct 19, 2008 at 6:51 pm
You’ve done it this time! BRAVO!!! New post up with some analysis.
2 YngvaiMalmsteve // Oct 21, 2008 at 12:04 pm
RJ,
I noticed that the calculator doesn’t work for OTCBB stocks or pink sheets. For example, I tried VCSY.OB and I got an error.
3 RJ // Oct 21, 2008 at 1:43 pm
Steve,
I use Yahoo! Finance to get historical data. Looks like for VCSY.OB, they don’t have historical data. Check http://finance.yahoo.com/q/hp?s=VCSY.OB&a=09&b=1&c=2008&d=09&e=21&f=2008&g=d
Whenever the calculator s not able to obtain results, the most likely cause is that Yahoo! Finance doesn’t have data. Let me know if you find any case where Yahoo! Finance has data but calculator gives you an error.
Thanks,
RJ
4 johnnyvento // Oct 21, 2008 at 10:45 pm
I think I found one: QELP doesn’t seem to produce any data even though it shows up on Yahoo. Is there any way you could get data from prophet.net? They seem to have more data on the OTCC/Pink Sheet ones
5 johnnyvento // Oct 21, 2008 at 10:49 pm
also IILG
anyway nothing is perfect, this is still my #1 go to tool for 2008
6 Bob // Oct 22, 2008 at 6:22 am
Noticed incorrect calculations: ^DJI from 10/13/2008 till 10/21/2008 has 3 greens and RRI has 4 greens, ^DJI green/RRI green % = 75, your calculator gives 66,67%
7 RJ // Oct 22, 2008 at 11:01 am
Bob,
I will look into it and get back to you.
8 RJ // Oct 23, 2008 at 11:37 pm
Bob,
The calculation is correct. Between 10/13 to 10/21, ^DJI was green 3 times. During those 3 GREEN days, SFI was green only once and red twice. So Green/Green % = 1/3 = 33.33%.
Similar calculation applies to other movements. Let me know if you still have doubts.
Thanks,
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