title: Shrinkage Estimates of the Spearman Correlation R
body: <p>I'm trying to estimate the correlation matrix of 50 stock returns in R.
  I'm aware that i should shrink the correlation matrix, but I'm also interested in using the Spearman’s rank correlation since it dosen't require the distribution to be normal. </p>
  
  <p>For the Sperman correlation I usually specify the method = "spearman" in the cov() function, which dosen't allow shrinkage tecniques.
  For shrinkage I've been looking at the tawny package and the corpcor package, but they're not allowing for any specification of the method pearson/spearman etc.</p>
  
  <p>Any suggestions on how I could handle this issue?</p>