5.5. Correlation Tracker

Correlation Tracker Application

Using the Correlation Tracker, traders can overlay several instruments on a single chart view to gauge the correlation between them.

To open the Correlation Tracker, click the studies icon above the chart and check the Correlation Tracker check box. Then, tick the Enable for current instrument check box and select the instrument(s) to be overlaid on the chart.

Correlation Tracker Interpretation

Traders can assess the correlation between two or more instruments and look for trading opportunities when instruments deviate from expected correlation.

Correlation Tracker Settings

Users can set the Correlation Tracker to reference mid-price or last trade and control the time resets for the overlaid instruments’ lines. Users can also set colour and line shape for the overlaid instruments.

Correlation Tracker Limitations

The overlaid instrument must be added to be available for correlation display.