The Correlation Table indicator allows to observe the correlation between the different instruments (currency pairs, commodities, indexes, futures, stocks, cryptocurrencies, ...) that can be traded in a broker.
In this table, the correlations above a certain configurable level are highlighted (for example, 70), which indicates that there is a high correlation between these instruments.
Green color refers to a positive correlation and red color to a negative correlation.
This indicator is very useful for pair trading or strategies of arbitrage between financial instruments.
The Decorrelation Table indicator shows the instruments with a correlation below a certain configurable level (for example, 30).
De-correlation between instruments is very important when creating a diversified and low-risk portfolio of strategies.
Both indicators work in all time frames and the calculation of the correlation between instruments is instantaneous.