Correlation in Crypto

Did some analysis on correlation between #crypto, #silver and #gold as well as #nasdaq and #sp500

not a surprise that all cryptos share a relatively high correlation with each other, especially after the #FTX bankruptcy on the 30 day correlation which increased correlation. #ETH and BTC show the highest correlation.

One exception is #dogecoin that often follows other impulses than #BTC

Even though BTC is often referenced as digital gold, BTC and gold are uncorrelated, and dropped back to below 20% on the 30-day correlation.

Methodology wise, daily closing prices were used after 1. differentiating the variables and omitting weekend closing prices (probably not the most accurate way, if you have a better way let me know)

https://twitter.com/BlockVerseCap/status/1598260624445751301