Correlation based test determines what type of relationship exist between exist between variables which in this case is the price of HIVE and that of LEO
This article shall be treated under the following sub menus.
A brief about correlation
The result of correlation
Scatterdot diagram
Conclusion
Other images
A brief about correlation
If you are just reading my post about correlation then this part is for you. The result of correlation is grouped into a positive, negative or non correlation otherwise known as zero correlation.
A positive correlation indicates as the price of HIVE goes bullish, that of LEO will also go bullish and vice versa. It can be strong or weak depending on how close it I to the positive 1 axis.
A negative correlation indicates as the price of HIVE goes bullish, that of LEO will also go bearish and vice versa. It can be strong or weak depending on how close it I to the positive -1 axis.
A zero correlation indicates the presence of no relationship between the tokens.
The result of correlation is seen below
With a pearson correlation coefficient of 0.668 indicates a strong positive correlation.
A strong positive correlation means that as the price of HIVE increases, that of LEO will likely increase too.
A more detailed prediction of LEO price using the price of HIVE can be seen in the scatter dot diagram below.
Scatterdot diagram
When the diagonal line passes though the point of interception, the correlation is said to be perfect and one could predict the price of even the lowest figure of a variable from another.
But the image below is similar just that the point didn’t pass through the intercept.
Conclusion
This article has been able to summarize the type of relationship that exist between HIVE and LEO token updated from June4 – September 20, 2022.
Other images includes
Maximum And minimum values of both assets
Data view mode
Variable view mode
Thanks for reading. I call on @forexbrokr to comment on the formatting method of this content.