Discussion of article "PairPlot graph based on CGraphic for analyzing correlations between data arrays (time series)"
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New article PairPlot graph based on CGraphic for analyzing correlations between data arrays (time series) has been published:
Comparing several time series during a technical analysis is a quite common task that requires appropriate tools. In this article, I suggest developing a tool for graphical analysis and detecting correlations between two or more time series.
Before we get to work, let's define our objectives. What kind of tool do we want to obtain in the end? First of all, it should be a graphical panel containing graphs of correlations between passed time series. The tool should be versatile enough and able to work with different number of time series.
To analyze the time series on the panel, we will build a distribution histogram for each time series. We will also prepare scatter plots to be displayed in pairs for analyzed time series in order to search for a correlation. Trend lines will be added to scatter plots as a visual reference.
The layout of the graphs in the form of a cross table will improve the readability of the entire tool. This approach unifies the data presentation and simplifies visual perception.
Below you can see how the indicator works.
Author: Dmitriy Gizlyk