Complete Correlation Matrix for Poloniex by bitgeek

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cryptocurrencies · @bitgeek · May 25 '17

$3.70

Complete Correlation Matrix for Poloniex

Have you ever wondered how correlated a coin is with another coin? The correlation matrix below shows the correlation between every coin on Poloniex based on data for 2017 to date.
 
Not surprisingly, the likes of Steem Dollars which is intended to be linked to dollars has very low correlation with everything else.
 
There’s a lot of information here.
 
For those who are unfamiliar with this, the correlation ranges from -100% to +100%. A correlation of 100% means perfectly positively correlated i.e. the price movement is completely in sync. A correlation of 30% would mean mildly positively correlated meaning the two coins would move in the same direction on average but the degree of correlation is not strong.
 
Apart from the Steem Dollars observation, are there any other observations that stand out?

The first table shows the  top 30 by market cap and the bottom table shows everything. 

  ![IMG_1839.GIF](https://steemitimages.com/DQmUPrAAzFjBhLA2nn4WZFDWp6YaJPiHgkEGLSSYNGMuQ9U/IMG_1839.GIF)

 
![IMG_1838.JPG](https://steemitimages.com/DQmaerynyYRQqvxJ6CCTAvW5i8orjhjymC6BnGaUw91UPoZ/IMG_1838.JPG)

👍 fuzzyvest, demotruk, ramblin-bob, gutzofter, eroche, rocketbeee, bkkshadow, kyle.anderson, remlaps, jlufer, condra, zedikaredirect, snubbermike, bitgeek, voidmu, carlos-cabeza, prolific, imparo, leopdspots, besold, crisgojar, rezafayaz, multiverse, digital-entrep, clayford08, bigmidas, jatinarora, teddy2, makecents, marcusxman, youngdav, clodoweg, jackal, droper, abrar, olesia, andrianna, olmech, lazariko12, leconnaisseur, cookgraphy, sprerku, zainalabidin, rizaldamti, lordoftruth, thomasgutierrez, steem-dublin, estream.studios, cryptodilettante, rickyracks, tt1234, ebargains

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voter	rshares	pct
fuzzyvest	950,489,724,796	22%
carlos-cabeza	1,541,425,269	100%
condra	7,335,137,959	18%
demotruk	322,814,293,077	35%
ramblin-bob	308,109,022,997	100%
jackal	1,155,232,073	100%
bkkshadow	17,219,935,971	100%
remlaps	12,147,149,256	100%
snubbermike	4,023,303,253	100%
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lordoftruth	363,489,178	100%
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eroche	57,476,010,119	100%
gutzofter	89,732,937,798	100%
zedikaredirect	6,659,808,979	100%
lazariko12	1,002,443,764	100%
kyle.anderson	14,872,701,722	49%
rizaldamti	375,717,038	100%
rocketbeee	43,815,937,660	100%
thomasgutierrez	209,789,021	100%
andrianna	1,107,225,819	100%
abrar	1,147,325,868	100%
youngdav	1,193,358,239	100%
bitgeek	1,838,515,206	100%
makecents	1,260,769,617	100%
marcusxman	1,200,459,695	10%
sprerku	677,003,637	100%
cookgraphy	735,068,001	100%
zainalabidin	407,441,544	100%
clodoweg	1,193,338,326	100%
olesia	1,114,359,285	100%
steem-dublin	203,257,510	100%
imparo	1,517,370,342	100%
leopdspots	1,515,369,823	100%
olmech	1,072,720,848	100%
prolific	1,527,335,888	100%
voidmu	1,692,778,327	100%
besold	1,515,367,607	100%
crisgojar	1,515,367,598	100%
teddy2	1,303,215,685	100%
clayford08	1,485,059,586	100%
rezafayaz	1,515,366,014	100%
droper	1,151,678,136	100%
multiverse	1,515,365,701	100%
leconnaisseur	818,297,367	100%
jatinarora	1,333,521,617	100%
bigmidas	1,424,442,795	100%
digital-entrep	1,515,364,280	100%
tt1234	0	100%
rickyracks	0	100%
cryptodilettante	0	100%
estream.studios	0	100%

@condra · May 25 '17

That's insane.

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@cryptodilettante · Oct 27 '17 (edited)

I can't read the values in the images as they are too small. Do you have a link to originals?

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@ebargains · Aug 21 '17

$0.51

@bitgeek Great info! Thank you for sharing. I was searching for this. Do you know of a website that shows these correlations in real-time?

👍 ebargains

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@jackal · May 25 '17

Another useful post! Thanks!
Upvote!

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@lazariko12 · May 25 '17

Useful information, @bitgeek! Thank you for sharing : )
Upvoted & Followed.

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@leopdspots · May 26 '17

I'll enjoy going through this. It's been 24/7 the past week on Poloniex for me. Thank you for posting this information.

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@makecents · May 25 '17

Keep em coming! Already followed, thanks for all that you do here.

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@rocketbeee · May 25 '17

Great info bitgeek!  I couldn't zoom in to the large chart to see much, but of the top 30, the coin with the least correlation to BTC, Dash, is still highly correlated at just under 80%.  BTC is shrinking in overall market cap, but it is clearly still driving the bus for everything else.  Any chance you could look at correlations between cryptocurrencies and other asset classes?  Like S&P 500, gold, US Treasurys?

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@bitgeek · May 25 '17

$0.06

I can look at the correlation with the s&p easily enough. I could look at the daily price movement correlation since the start of the year.

👍 rocketbeee

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@rocketbeee · May 26 '17

Investors who have US stock market exposure should be very interested in that.  Any solid investment that is uncorrelated with the S&P is quite meaningful.  Looking forward to your future posts.  Thanks again.

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