Is there a correlation between the value of Ripple (XRP) and Bitcoin (BTC)?
Bitcoin and Ripple's past 90 days prices somewhat correlated
Correlations in Coingecko's Top Ten
I've proceeded to check the past 90 days correlations of the top ten cryptocurrencies as listed on Coingecko.com:
In the past ninety days:
- Litecoin and Bitshares had a correlation of 0.93, as had Litecoin and NXT.
- Bitcoin appears to be most correlated with Ripple and Litecoin, both 0.74.
- Bitcoin appears to be least correlated with Stellar, at -0.19
- The least correlation appears to be between Dogecoin and Monero at -0.05.
All data was taken from Coingecko's last 90 days pricecharts on 2015-06-08. Therafter, I plugged them into LibreOffice, and ran Correl(A;B) on each pair.