Stock Correlation Indicator?

Hi everyone,

I am looking a correlation trading and would like to set up an alert which monitors two stocks (which I will hedge) and take profit when the trade enters profitability. One in on the LSE one on the NYSE to add a layer of complication potentially.

Does anyone know of any such tool?

Many thanks

Radarscreen which is part of the Tradestation Suite can do this easily. You may even find that Excel can do it as well although I am not the best person to ask about Excel.


Paul