Is there a free online resource that I can use to find pairs of stocks that are always negatively correlated? For example, I want to find stocks that are negatively correlated w.r.t SPY.
On Google Finance, I can draw the chart for SPY for the last 5 years, and then individually I can compare other stock charts against the SPY chart to find which ones are negatively correlated. But this is manual process and I need to select each stock to know if it is negatively correlated with SPY.
Is there an automatic tool that would let me choose one ETF like SPY, then find all other stocks that have a correlation coefficient of less than 0 with SPY?
An alternative obviously is to download historical prices and calculate the coefficient in Excel.