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Correlation Matrix

Correlation: Positively correlated variables tend to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other.
The Pearson Correlation Coefficient 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.

Correlations between assets

=CRYPTOFINANCE("{comma seperated asset symbols}", "correlations", "{parameters}")

Supported Parameters:

  • quote: Quote symbol of the provided assets. USD by default.
  • period: Period for the correlations calculation. 1m (month) by default. Available choices are: 1h, 6h, 24h, 2d, 3d, 1w, 1m, 3m, 6m, ytd, 1y, 2y, 3y, 4y and 5y.
  • detrend: First-differencing is a common technique to remove a trend from time series data. It expresses the changes from one period to the next. Yes by default. Available choices are: yes and no.

Example

=CRYPTOFINANCE("btc,eth,xrp,ltc", "correlations", "quote=usd;period=1m;detrend=yes")
You can use the built-in template to explore the correlations between assets.