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Best website to get a list of correlated stocks for pairs trading ?
Looking for a website that I can enter a symbol and get it's closest positively and/or furtherest negatively correlated match. Any suggestions ?
Answers
293 points
Intern answered one year ago …
I don't have a particular site I use but I found this article that gives great techniques for performing correlations in Excel:
http://www.traderslog.com/trading-pairs.htm
2082 points
alanj answered one year ago …
What you are looking for is a list of stocks of similar sectors or industries. Find an ETF of a particular industry or sector that you are interested in. iShares has a large selection. Click on the details of that ETF which somewhere within should give you a list of stocks that they are holding. If the list is too large then narrow it down to just the top holdings. This should give you a list to do your own comparison. A good way to compare is to pull up the stock pair on the same price chart. This can be done by separating the symbols with a space on most chart services.
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