indCovariance

Function Name: indCovariance

Tags: Statistics

Category: Other

The Covariance Function calculates the covariance between two bases.

It is used to determine the relationship between two data sets. This coefficient returns a value that measures the influence that the independent (INDEPENDENTVAL input) data series has over the dependant data series (DEPENDENTVAL input). The greater the value, the stronger the correlation, the smaller the value (if negative) the stronger the inverse correlation. If the value is near to zero the correlation is non-existent.

 

Link:       http://www.investopedia.com/terms/c/covariance.asp

 

Source1	Choose any symbol as the first base. By default, the first symbol that is shown on the chart is used.
Source2	Choose any symbol as the second base. By default, the second symbol that is shown on the chart is used. If only one symbol is visible on the chart, you can choose a second symbol with Symbol Search by clicking on Other.

period
	Default Value: 14  |  Minimum: 2  |  Maximum: 9999
	Type: Numeric
SampleMethod
	Default Value: 0
	Type: Boolean