Correl() Example Incorrect

[craigmediaservices]

The second example on Correl() function is incorrect:

Examples

Calculate the correlation of the 1 day returns for the past three months of the stock vs. it’s industry

Correl(1,62,#Industry)

Calculate the correlation of the 5 day returns for the past year of the stock vs. the S&P500.

Correl(1,62,$SP500)

NOTES:

• See TIME SERIES IDS for the series ids.
• You can also use the GetSeries(“ticker”) functions
• Always use times series in the same country so that holidays line up.

What is the correct formulation of the second example? Is it Correl(5,251,$SP500)?

Thank you!

[pdemartino]

I would use:

–corrected–

That’s just general principles: I find #year easier to read and I prefer to use SPY rather than the index. The index doesn’t include dividend income, so I am in the habit of using SPY.

I will correct the documentation.

EDIT: It was pointed out that there are 52 weeks in a year, not 251. So:

Correl(5,52,GetSeries("SPY"))

[WalterW]

Correl(1,62,$SP500)

That seems to work - in the Screener at least.