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Correlation Calculator


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#1
tauf

tauf

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The Correlation calculator visually (using charts) represents the existence of an interconnection between movements in the price of different trading pairs and calculates a correlation coefficient. The correlation coefficient is an indicator that shows the degree of interconnectedness between chosen pairs. The correlation coefficient takes on values ranging between -1 and +1. The value of +1 (or any closest to it) indicates that prices of chosen pairs are moving in the same direction. The value of -1 (or any closest to it) indicates that prices of chosen pairs are moving in opposite directions. The following degrees of correlation are distinguished:
 
- weak (0 to +/- 0.2);
- low (from +/-0.2 to 0.4);
- average (from +/-0.4 to 0.7);
- high (from +/-0.7 to 0.9);
- strongest (from +/-0.9 to 1).
 
The Correlation calculator is a useful analytical tool that helps to make a sound trading decision when using a strategy, which is based on diversification and hedging against risks
 

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#2
Irina Malcova

Irina Malcova

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Fibonacci Calculator

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The fibonacci calculator is a tool that traders use to help identify strategic places for transactions, stop losses or target prices to help them get in at a good price.


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