I find that while SPY does not coorelate real close with 1/10 of
SPX, the % change from yesterday's close is usually much closer,
usually within a few hundredths of a %. So I made a little
spreadsheet calculator where
the inputs
are:
1. yesterday's SPX close
2. yesterday's SPY close and
3. Matt' SPY signal target.
The outputs
are:
1. the % change from yesterday's SPY close to Matt's SPY target
and
2. the SPX that gives the equivalent % change
The only resaon I use an SPX equivalent approximate target is
that sometimes I am away from my computer for an extended period (I
am retired and usually home all day - up until market close),
reading a book or doing something downstairs where there is no
computer and I just put the TV on CNBC (muted
of course) and every once in awhile I glance at the screen which
shows me where SPX is and I have an idea if we are getting close to
a target or if I should stop what I am doing and get back to my
computer charts.
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I find that while SPY
SPY correlation to S&P 500
Posted by dougmil on 2nd of Jun 2011 at 11:47 pm
I find that while SPY does not coorelate real close with 1/10 of SPX, the % change from yesterday's close is usually much closer, usually within a few hundredths of a %. So I made a little spreadsheet calculator where
the inputs are:
1. yesterday's SPX close
2. yesterday's SPY close and
3. Matt' SPY signal target.
The outputs are:
1. the % change from yesterday's SPY close to Matt's SPY target and
2. the SPX that gives the equivalent % change
The only resaon I use an SPX equivalent approximate target is that sometimes I am away from my computer for an extended period (I am retired and usually home all day - up until market close), reading a book or doing something downstairs where there is no computer and I just put the TV on CNBC (muted of course ) and every once in awhile I glance at the screen which shows me where SPX is and I have an idea if we are getting close to a target or if I should stop what I am doing and get back to my computer charts.