Scanning for Correlating Stocks

[DoQtorNo]

Howdy and good am,

Is there a way to scan for underlying instruments that correlate with the SPY? As it moves so do they?

 

[rad14733]

Howdy and good am,

Is there a way to scan for underlying instruments that correlate with the SPY? As it moves so do they?

Depending on the markets quite a few stocks trend with SPY... Back when the market plummeted in the Spring a large majority of the stocks trended in lock step with SPY to the point where I thought my all of my systems were lying to me... $DJI, SPY, AMD, AAPL, MSFT, MU, and a bunch more had virtually identical charts for days...

All that being said, I'm not sure how you would devise a scan to find stocks trending with SPY...

 

[DoQtorNo]

Depending on the markets quite a few stocks trend with SPY... Back when the market plummeted in the Spring a large majority of the stocks trended in lock step with SPY to the point where I thought my all of my systems were lying to me... $DJI, SPY, AMD, AAPL, MSFT, MU, and a bunch more had virtually identical charts for days...

All that being said, I'm not sure how you would devise a scan to find stocks trending with SPY...

Thanks for the response and taking time to address my question. Yeah, I was answering myself with, "it depends" lol...if I come across anything, i will be sure to post it here for you to view....