Linear XY Regression R-Squared [XY-RSQ]

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The Linear XY Regression R-Squared function determines the extent of a linear relationship between two fields over a given period of time using the square of the Pearson product moment correlation coefficient. Parameters ------------------ Data 1       One set of data to use in the relationship. This is typically a field in a data series or a calculated value. Data 2       The other set of data to use. Also a field in a data series or a calculated value. Period        The number of bars of data to include in the relationship, including the current value.                   For example, a period of 3 includes the current value and the two previous values. Function Value ------------------------ The Pearson product moment correlation coefficient is typically represented by the letter r. The square of its value has a range from 0 to 1. Value       Meaning ---------------------------------------------     1          Perfect Positive or Negative Correlation     0          No Correlation The period is used to determine the number of days to include in the relationship, including the current value. For example, if the period is 3, the relationship includes the current value and the two previous values. The Pearson product moment correlation coefficient (r) is frequently squared and then refered to as r-squared. The meaning and overall range of the values is the same, but squaring the value clusters less-correlated values closer to zero.