Correlation Analysis Between LEO And POLYCUB
Correlation analysis determines the nature of relationship that exist between variables of concern which in our case is the price of LEO and POLYCUB.
The result can either be positive, negative or zero.
When it’s positive indicates that as the price of POLYCUB is in a bull market, that of LEO will be same and vice versa. This relationship is closer to +1 axis.
When it’s negative indicates that as the price of POLYCUB is in a bull market, that of LEO will be bearish and vice versa. This relationship is closer to -1 axis.
When it is zero indicates no relationship at all. This type of relationship is closer to 0 axis.
The relationship can be weak or strong depending on how close it is to each axis.
I shall analyze the price of LEO and POLYCUB relationship using SPSS.
Result Of Analysis
The result of correlation analysis shows a weak negative correlation with a coefficient of –0.046.
This relationship is negative and weak and hence tends towards to zero axis. This indicates that as the price of POLYCUB goes high It has little significance in the price of LEO pump or dump.
Furthermore it can be explained better from the scatterdot diagram.
When there is a diagonal line running from the middle of the intersection point, of both axis, a positive relationship can be visualized but when there is a line running from the end of one axis to the other end shows a negative correlation.
Conclusion
In a nutshell, we can conclude that there is a very little and weak type of negative relationship between POLYCUB price and price of LEO because it is closer to the 0 axis.
Other images includes
Maximum and minimum prices of both assets from June 4 – September 27,2022.
Data view mode
Variable view mode
Thanks for reading, please can @forexbrokr evaluate the format of this work? Thanks to him for efforts of presenting analysis result.
Thanks for reading.
Posted Using LeoFinance Beta
This looks much more professional, right?
Nice work :)
PS. Other than the double up of 'Posted Using LeoFinance' at the end ;)
Strive for the type of professionalism expected if you were to present this work to a paying client.
Come on mate, you've got this.
Proof read!
Posted Using LeoFinance Beta
Edit: I see you've already removed it before I even hit publish on this comment.
Perfect!
Thanks for the compliments.
I love the correlation analysis.
From what I've understand, I think your result makes sense as LEO is being used as a reward for posts while POLYCUB is not. I can't wait for the time when your analysis would be positive. 😊
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