Scanning for Correlating Stocks

D

DoQtorNo

Member
Howdy and good am,

Is there a way to scan for underlying instruments that correlate with the SPY? As it moves so do they?
 
Sort by date Sort by votes
rad14733

rad14733

Well-known member
VIP
DoQtorNo said:
Howdy and good am,

Is there a way to scan for underlying instruments that correlate with the SPY? As it moves so do they?
Click to expand...
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...
 
Upvote 0 Downvote
D

DoQtorNo

Member
rad14733 said:
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...
Click to expand...
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....
 
Upvote 0 Downvote
You must log in or register to reply here.

Join useThinkScript to post your question to a community of 21,000+ developers and traders.

SIGN UP NOW LEARN MORE
Thread starter Similar threads Forum Replies Date
dugafish Scanning for when RSI is greater than FilterL Questions 1
P Scanning against DailyRelativeRange Questions 2
J Scanning For The Past Questions 2
T Scanning for stocks trading between the EMA High and EMA Low Questions 3
K Scanning for Intraday Lows and highs Questions 5

Similar threads

Not the exact question you're looking for?

Start a new thread and receive assistance from our community.

87k+ Posts
247 Online
Create Post

Similar threads

Similar threads

The Market Trading Game Changer

Join 2,500+ subscribers inside the useThinkScript VIP Membership Club
  • Exclusive indicators
  • Proven strategies & setups
  • Private Discord community
  • ‘Buy The Dip’ signal alerts
  • Exclusive members-only content
  • Add-ons and resources
  • 1 full year of unlimited support
Try VIP Club Today

Frequently Asked Questions

What is useThinkScript?

useThinkScript is the #1 community of stock market investors using indicators and other tools to power their trading strategies. Traders of all skill levels use our forums to learn about scripting and indicators, help each other, and discover new ways to gain an edge in the markets.

How do I get started?

We get it. Our forum can be intimidating, if not overwhelming. With thousands of topics, tens of thousands of posts, our community has created an incredibly deep knowledge base for stock traders. No one can ever exhaust every resource provided on our site.

If you are new, or just looking for guidance, here are some helpful links to get you started.

What are the benefits of VIP Membership?
VIP members get exclusive access to these proven and tested premium indicators: Buy the Dip, Advanced Market Moves 2.0, Take Profit, and Volatility Trading Range. In addition, VIP members get access to over 50 VIP-only custom indicators, add-ons, and strategies, private VIP-only forums, private Discord channel to discuss trades and strategies in real-time, customer support, trade alerts, and much more. Learn all about VIP membership here.
How can I access the premium indicators?
To access the premium indicators, which are plug and play ready, sign up for VIP membership here.
Top