Site that allows one to search for equities whose price action is historically correlated or anti-correlated?

If IBM is up today, out of the S&P 500, which other stock is most likely to be up? Which is most likely to be down?

I want to do this search for several symbols. Seems like a useful tool. If you're doing arbitrage-based algo trading you need it. Does everyone build their own?

Submitted January 29, 2015 at 12:45PM by johnshedletsky http://ift.tt/1vacGr6