30 Days Alt - BTC Correlation
Correlation: Positively correlated variables like to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other.
Quantifies the estimated strength of the linear association between two variables. It ranges from +1 to -1.
0 indicates no linear correlation.
Given the whole Buzz on Crypto and Bitcoins Moon landing nearing, I thought it would be good to share some of the top currencies and their correlation over the last 30 days.
Discussions always welcome.
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.
Quantifies the estimated strength of the linear association between two variables. It ranges from +1 to -1.
0 indicates no linear correlation.
Given the whole Buzz on Crypto and Bitcoins Moon landing nearing, I thought it would be good to share some of the top currencies and their correlation over the last 30 days.
Discussions always welcome.
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.
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