Correlation Coefficient

📊 Correlation Coefficient (CC)

This indicator measures the statistical correlation between two selected securities over a defined period, scaled from -100 to +100.

It helps you quickly assess whether assets are moving:

Together (positive correlation)

Opposite (negative correlation)

Independently (zero correlation)

🔧 Features:

Select any two symbols (default: NIFTY & BANKNIFTY)

Adjustable length parameter for short-term or long-term correlation analysis

Clean, color-coded plot with horizontal levels to easily identify key correlation zones

📈 Useful For:

Pair trading setups

Hedging strategies

Detecting market regime shifts or intermarket divergences

⚠️ Disclaimer: This is not trading or investment advice.
This indicator is intended for informational purposes only and is not recommended for making
direct trading decisions.