How can I use tradingview to track the correlation between Tesla's stock price and the price of Bitcoin?

1 answers

• Sahan Kavinda 62Dec 06, 2023 · 2 years ago
  Using TradingView to track the correlation between Tesla's stock price and the price of Bitcoin is a great idea! Here's how you can do it: 1. Log in to your TradingView account or create a new one if you don't have it. 2. Search for 'TSLA' in the search bar to find Tesla's stock chart. 3. Click on the 'Indicators' button at the top of the chart. 4. In the search box within the 'Indicators' window, type 'correlation coefficient' and select it from the list. 5. Adjust the settings of the correlation coefficient indicator as per your preference. 6. Open a new tab and search for 'BTCUSD' to find the Bitcoin price chart. 7. Repeat steps 3-5 to add the correlation coefficient indicator to the Bitcoin chart. 8. Now you can easily track the correlation between Tesla's stock price and the price of Bitcoin on TradingView. Remember, correlation analysis can provide valuable insights, but it's important to consider other factors that may impact these assets as well.
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