Howdy, Stranger!
Categories
- All Categories
- 2.3K StockCharts
- 387 SharpCharts
- 142 Other Charting Tools
- 67 Saved Charts and ChartLists
- 1.4K Scanning
- 71 Data Issues
- 172 Other StockCharts Questions
- 214 Technical Analysis
- 154 Using Technical Analysis
- 2 InterMarket and International
- 19 Market and Breadth Indicators
- 39 Market Analysis
- 105 Trading
- 105 Trading Strategies
- 164 S.C.A.N the StockCharts Answer Network forum
- 65 Using this StockCharts Answer Network forum
- 99 s.c.a.n. archives
- 17 Off-Topic
- 10 The Cogitation & Rumination Emporium
- 7 Forum Test Area
New Members: Be sure to confirm your email address by clicking on the link that was sent to your email inbox. You will not be able to post messages until you click that link.
Smallcaps Adhering to $SML or their Index?
Hey guys,
So I am curious on what the general consensus is about Smallcap stocks adhering to either the $SML / Russell 2000 or their individual Index, such as the NYSE or NASDAQ. What I mean by this is that if the general direction of the $SML is down, would the majority of smallcap stocks also be trending down - or would they be moving in the same Direction as their specific index (NYSE, NASDAQ?)
I hope that made sense. Here's another attempt at phrasing my question it:
If stock X is part of NASDAQ and also considered a Smallcap stock, would the stock more likely move in the direction of the $SML or the NASDAQ?
Thank you. Also, as a newcomer I am sorry about your loss to the hackers
So I am curious on what the general consensus is about Smallcap stocks adhering to either the $SML / Russell 2000 or their individual Index, such as the NYSE or NASDAQ. What I mean by this is that if the general direction of the $SML is down, would the majority of smallcap stocks also be trending down - or would they be moving in the same Direction as their specific index (NYSE, NASDAQ?)
I hope that made sense. Here's another attempt at phrasing my question it:
If stock X is part of NASDAQ and also considered a Smallcap stock, would the stock more likely move in the direction of the $SML or the NASDAQ?
Thank you. Also, as a newcomer I am sorry about your loss to the hackers
0
Best Answer
-
Kevo
✭
Drop the Correlation Coefficient indicator on your chart to see if they track each other. Values above zero mean they do, below zero mean they do not. Values higher than .5 mean they are strongly correlated. See the Chart School article.0