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Author Topic: bitcoin-gold price correlation  (Read 719 times)
leen93
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March 29, 2016, 09:17:19 PM
 #1

Is there a website where you could track the correlation?
same for bitcoin - stock market correlations
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March 30, 2016, 06:24:55 AM
 #2

something like this?

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March 31, 2016, 11:38:36 AM
 #3

Is this a manually created chart or is there an option on tradeblock.com where you can create it? If so, could you point me to this comparator. I could not find it.

something like this?


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March 31, 2016, 11:54:12 AM
 #4

Is this a manually created chart or is there an option on tradeblock.com where you can create it? If so, could you point me to this comparator. I could not find it.

something like this?

snip

dunno i just found it on google image there are plenty of those, but i think it is done with some software not manually
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March 31, 2016, 06:02:11 PM
 #5

I just need to know if there is a clear positive or negative correlation
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March 31, 2016, 06:22:59 PM
Last edit: March 31, 2016, 06:38:46 PM by OROBTC
 #6

I just need to know if there is a clear positive or negative correlation


The chart above states a negative correlation of -0.58.  That is pretty high in the world of the "Social Sciences", where a correlation of (plus or minus) 0.30 is often considered "significant" statistically.

Note something I found curious: how when either BTC or gold prices did not change much, neither did the other.  Hmm.

A large sample size is best when using correlations.  That chart only measures those prices for 9 months, which may be "good enough", but statisticians making judgments ALWAYS like to see larger sample sizes.  If there are charts around measuring the above for longer time frames, that would be more useful.


EDIT:  Less useful, but more current and easy to check is the below chart from stockcharts.com.  It is the ratio of GBTC (a Bitcoin ETF I believe) to GLD (the gold ETF).  This measures the ratios, meaning that IF gold and BTC prices were strongly positively correlated THEN the ratio would likely be quite constant.  IF gold and BTC prices were negatively correlated THEN the ratio would bounce around, which it has until lately...  More time (price data) would be useful.

The chart only goes back six months however, Oct 2015 - through March 2016.



http://stockcharts.com/c-sc/sc?s=GBTC%3AGLD&p=D&b=5&g=0&i=0&r=1459448991850
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March 31, 2016, 07:48:49 PM
 #7

I just need to know if there is a clear positive or negative correlation
Not clear enough to really change your trading decisions, no.  You would expect that they would corrolate with each other well as 'risk off' assets, but the chart posted shows that that isn't the case at the moment at least!


If the SHTF, I would expect a much better positive correlation, but at the moment I think it is just chance.
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April 01, 2016, 01:32:23 AM
 #8

something like this?


There is something interesting in this chart. Since when Bitcoin symbol is XBX? I never heard about this?
When it was decided?

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April 01, 2016, 06:34:08 AM
 #9

something like this?


There is something interesting in this chart. Since when uᴉoɔʇᴉq symbol is XBX? I never heard about this?
When it was decided?

i believe it has to do with the word exchange, they used the x as a suffix for bitcoin

found this http://bitcoin.stackexchange.com/questions/36160/what-exactly-is-xbtc
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April 01, 2016, 07:47:22 AM
 #10

I just need to know if there is a clear positive or negative correlation


The chart above states a negative correlation of -0.58.  That is pretty high in the world of the "Social Sciences", where a correlation of (plus or minus) 0.30 is often considered "significant" statistically.

Note something I found curious: how when either BTC or gold prices did not change much, neither did the other.  Hmm.

This BTC-gold correlation (the correlated part in the their prices) most likely reflects the changes in the price of the US dollar...

That is, not BTC and gold appreciation on their own

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April 06, 2016, 10:22:42 AM
 #11

It is not wise to speculate bitcoin price based on gold or vise verse because bitcoin is not backed by gold.

But yes, USD is backed by gold, but for the purpose of speculation and trading with gold, this correlation can lead you to an uncharted territory. 


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