CovarEasy (Function)

The CovarEasy function calculates the covariance of a single dependent variable and length.

The covariance measures their tendency to vary together. Where the variance is the average of the squared deviation of a data set from its mean, the covariance is the average of the products of the deviations of the data set values from their means.

Syntax

CovarEasy(Dep,Length)

Returns (Double)

A numeric value for the current bar.

Parameters

Name	Type	Description
Dep	Numeric	Sets the dependent value used to calculate the covariance.
Length	Numeric	Sets the number of bars to consider in the covariance.

Remarks

The input parameter Dep can be a bar or multi-data value such as Close, High, Low, Open, or Volume. It can also be any mathematical calculation such as (High + Low) / 2, or a numeric function such as RSI, Stochastic, or ADX.

The value for the Length input parameter should always be a whole number greater than 0.

Example

Assigns to Value1 the covariance the Close over the last 20 bars, then plots Value1:

Value1 = CovarEasy(Close, 20);
Plot1(Value1, "CovarEasy");