The Pair Correlation study calculates the Correlation coefficient between the prices of the instruments in the composite symbol (e.g., "IBM+GOOG").
Note that in composite symbols, instruments are ordered alphabetically, and Pair Correlation calculates the coefficient for the first two instruments only. E.g., if the composite symbol "C+BAC+AMD" is entered, it will be normalized to "AMD+BAC+C", and the coefficient will be calculated for AMD and BAC.
||The number of bars used to calculate the correlation coefficient.|
||The Pair Correlation plot.|
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.