Correlation Matrix - The Easiest Tool for Gold, Silver and Gold Stocks Correlation Analysis:
- Displays the "big picture"
The Correlation Matrix shows the markets that influence gold, silver, gold stocks and juniors. It gives you an advantage over most investors that focus on the precious metals market alone.
- Works as a litmus test for markets
It estimates the strength of influence that a particular non-PM market is about to have on gold, silver and corresponding equities in the coming days/weeks/months.
- Shows "how much" the markets have moved together in the past
The correlation coefficient takes values from -1 to 1. A negative value means that a particular pair of markets moves in the opposite direction on average. A positive value indicates movement in the same direction.
- Identifies the markets that go one step ahead
It enables you to pay attention to the markets that show the future trends. It also enables you to detect a possible catalyst of either breakout or breakdown.
Here's how it works:
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