Lead/Lag Correlation (Quant Lab)

How to use it? (Briefly)
• otherSymbol: The asset you think could be the leader
• Example: If you are on a BTC chart → BINANCE:ETHUSDT, TOTAL3, USDT.D etc.
• lagBars:
• If you say 5: You are looking to see if there is a correlation between the movement of the other instrument 5 bars ago and your current movement. • In other words, is the other one leading?
• corr (green/red line):
• Close to +1 → strong positive correlation
• Close to -1 → strong negative correlation
• Close to 0 → no correlation

Lead/Lag interpretation:
• If the correlation is high for a specific lagBars (e.g., 0.7+):
➜ The otherSymbol you chose could be a strong "leader" for your current chart. In other words, its movement 5 bars ago is now explaining yours.