How to use ARRAYS in Pine Script V4 to calculate CORRELATION & COVARIANCE

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Lesson Resources: TradingView Array Blog: https://www.tradingview.com/blog/en/arrays-are-now-available-in-pine-script-20052/ TradingView Array Documentation: https://www.tradingview.com/pine-script-docs/en/v4/essential/Arrays.html#introduction Array Diagram: https://media.geeksforgeeks.org/wp-content/uploads/C-Arrays.jpg FIFO/Stack Diagram: https://4cawmi2va33i3w6dek1d7y1m-wpengine.netdna-ssl.com/wp-content/uploads/2018/07/Computer-science-fundamentals_6.1.png Covariance Definition: https://www.investopedia.com/terms/c/covariance.asp Correlation Definition: https://www.investopedia.com/terms/c/correlationcoefficient.asp

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This lesson demonstrates how to use array functions in Pine Script to calculate the correlation coefficient (and covariance) of two different markets.

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▼Timestamps▼ 00:00 - Intro 04:30 - What Are Arrays? 06:35 - Get User Input 08:40 - Calculate % Change of Markets 12:55 - Declaring A Float Array 16:45 - FIFO vs Stack Arrays 17:57 - Adding Data to an Array 20:20 - What is Covariance? 21:10 - Calculating Array Covariance 24:56 - What is the Correlation Coefficient? 27:10 - Getting Array's Standard Deviation 28:19 - Calculating Array Correlation 29:33 - Summary & Analysis 35:08 - PineScriptMastery.com

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