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RE: Correlation Coefficient between bitcoin and a bunch of altcoins

in #bitcoin8 years ago (edited)

Basically what it means that certain coins, the darker green ones, mimic bitcoin really well (go up when it goes up and go down when it goes down), some move opposite to bitcoin - those are the red ones which this data suggests will go down when bitcoin goes up and up when bitcoin goes down. Then you have the white-ish ones, those are "uncorrelated" to bitcoin meaning that it goes up and down independently from whatever bitcoin does.