Correlation
Pairwise correlation matrix and single-ticker screen for a stock basket, with rolling correlation, tail dependence, and factor structure.
Tells you whether a basket of tickers is actually diversified or is secretly a small number of repeated bets, and which pairs in it are prone to crashing together.
Screens one ticker you hold or are considering against a fixed universe to find what moves with it and what would genuinely offset it.
Answers a risk question ordinary correlation can't: how likely two names are to move together on an extreme day, not just a typical one.
Whether a basket is actually diversified, or just N tickers that move together, and which pair deserves a closer look for hidden crash risk.
Given one ticker you already hold or are considering, find what moves with it and what would actually offset it.
Toggle Pearson / Spearman above the Explore matrix to change the correlation method used in the matrix.
Click a cell in the Explore heatmap to select a pair, driving the rolling pair-correlation and tail-dependence read below.
From the tail-dependence read, click "test cointegration" to open the Cointegration tool pre-loaded with the selected pair.
Click a dot on the Cross-Asset scatter, or a row in the ranked lists, to re-base the screen to that ticker.
Open Basket from the header to add or remove tickers (Explore), or type a ticker into the search box to set the base (Cross-Asset).