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Does Williams %R Agree on ES and YM? (5-minute Charts)
Educational reference. Measured from recorded market data through September 25, 2026. Not a forecast.
Williams %R measures where the close sits inside the recent range. This page asks a narrower question than the price comparison: when Williams %R moves on E-mini S&P 500, does it move the same way on E-mini Dow?
| Bars where Williams %R moved on both | 8,377 |
|---|---|
| … and moved the same direction | 6,388 (76.3%) |
| Price correlation, same period | +0.402 |
Williams %R agrees more than price does. Prices correlate at +0.402, yet this reading matches 76.3% of the time. It is tracking something the two markets share beyond direction.
Why this is not the same as the price question
Two markets can move together while their momentum, trend strength or volatility do not. A reading that agrees far less than price suggests is exactly where one market is losing steam while the other keeps going — and a reading that agrees more is tracking something shared that direction alone does not capture.
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