Correlation Analysis Wizard: Analysis Fields

Correlation Analysis Dialog: Analysis Fields

The Correlation Analysis Wizard allows you to search for correlation between the data in one field and the previous or future values of one or more other fields. This is useful for determining if one field may be a good input for predicting another. The Analysis Fields page allows you to select which fields to perform the correlation analysis against.

Selecting Fields for Correlation Analysis

All of the fields in the portfolio are available for selection from the selection tree. To specify one or more fields for correlation analysis, select a group, data, or field from the selection tree and press the Add Selected Fields button.

The Preprocessing setting can be used to apply individual preprocessing to the fields as they are selected. By default, the percent change of each value will be analyzed. This is also the default when selecting inputs for creating a prediction.

·      Percent Change

This option uses the percent change in the value of the field. It is useful for analyzing fields that do not have a constant range, such a price data.

·      Change

This option uses the change in the value of the field. It is useful for analyzing fields that have both positive and negative values and those that include zero.

·      None

This option uses the actual value of the field. It is useful for analyzing fields that have a consistent range, such as entry/exit signals and some financial indicators.

Ä    Note: Change and percent change preprocessing are done relative to the previous bar of the prediction data series. In most cases, this is the change from the previous bar of the input. However, when using data of other periodicities, it will be the change from the value at the previous bar of the prediction.

&  For additional help with working with multiple periodicities, see Understanding Periodicity.

If you would like to add only one field from all of the selected data, press the Add Field from Selection… button. This will display a field selection dialog that will allow you to select a single field name to add from all of the selected data.

:    Example: To add the Close field from all of the data in the portfolio, select the portfolio in the field tree. Then, press the Add Field from Selection… button and select "Close" on the field selection dialog.

You can also perform either of these operations by double-clicking on an entry in the field tree.

&  For help using the selection tree, see the help for Selection Trees.

Ä    Note: The selected fields must all share a common date range in order to be analyzed. Only one date range is used for each correlation analysis.

Changing or Replacing Fields from a Previous Correlation Analysis

The fields that are currently selected for analysis are displayed in a list on the dialog. To remove all of the previous fields and replace them with new ones, press the Remove All Fields button. To remove individual fields, select the fields you would like to remove from the list and press the Remove Selected button. New fields can then be added using the methods described above.

What Do I Do Next?

If you are creating a new correlation analysis, press the Next button to continue on to the Analysis Options page. If you would like to exit the wizard without performing any analysis, press the Cancel button. If you would like to change the type of analysis being performed, press the Back button to return to the Analysis Type page.

If you are modifying a previous correlation analysis, press the OK button to save your changes or select another property page. If you would like to exit from this dialog without changing the previous correlation analysis, press the Cancel button.

Additional Property Pages

The Correlation Analysis Wizard is displayed as a dialog with property pages when previous correlation analysis options are being modified. In addition to this page, the Analysis Options page is also available.

&  For help using property pages, see the help for Property Pages.

How Did I Get Here?

The Analysis Fields page appears after the Analysis Type page in the Correlation Analysis Wizard. It is also displayed when you press the Change Analysis… button from the Modify Field Dialog: Correlation Analysis page.