There are multiple Excel correlation and regression packages in the market that alleviate you of the need to build the calculations and worksheets yourself. For correlation trading, be sure the package you choose includes the following features:
- Correlation matrix
- Partial correlation matrix
- Linear regression
- Exponential regression
- Polynomial regression
- Regression forecasting
- Regression coefficients
- Standard errors
- Degrees of freedom
- Z-test
- P-value
- Students T-test
- F-test
- Chi test
- Full instructions for each template.
Here are some and screenshots of features you should look for.
Correlation Calculations in Excel
Correlation Coefficients in Excel
Partial Correlations in Excel
Statistics Measures in Excel
