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say I run a function which continuously displays data in the matlab command window. How do I display the command window values in static text in GUI???
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You create a text box and then you update it like this
If your desire is to be running a function and, without changing the code the function uses to display values, you want to display copies of the command-line output in your GUI, then the only documented way for you to do that "on the fly" is to override the display(), fprintf(), and fwrite() routines to make them take copies as well as to do their intended work.
If you were using two different MATLAB sessions, and MATLAB R2012b or later, then you could use "diary" in one of the sessions before running the function, and then in the other MATLAB session be continually reading from the diary file and displaying it. "diary" does exist in earlier MATLAB, but the buffering of the output would make it not much "on the fly".