Crypto Bitcoin Correlation - (altcoins)
Updated
Here's a quick correlation view of some of the top altcoins.
Correlation: Positively correlated variables tend to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other.
This quantifies the estimated strength of the linear association between two variables. It ranges from +1 to -1: +1 indicates a perfect positive linear correlation, -1 a perfect negative linear correlation, 0 indicates no linear correlation. The chart in the background represents the change in the correlation over time.
Alts Dominance - could it be only as BTC is slightly ahead?
Will this cross - when BTC hits it's weekly (4)???
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Correlation: Positively correlated variables tend to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other.
This quantifies the estimated strength of the linear association between two variables. It ranges from +1 to -1: +1 indicates a perfect positive linear correlation, -1 a perfect negative linear correlation, 0 indicates no linear correlation. The chart in the background represents the change in the correlation over time.
Alts Dominance - could it be only as BTC is slightly ahead?
Will this cross - when BTC hits it's weekly (4)???
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Comment
some interesting moves coming in Crypto
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