Correlate Bitcoin prices with anything

They seem to be computing the correlation of price levels (which are completely meaningless) rather than the correlation of price difference or returns.<p>Any two time series which broadly moved up over the same time period will look correlated if you compute the correlation of levels. But they could in fact be completely uncorrelated (and therefore have zero predictive power) when you compute the correlation on returns, which is what you should be doing.

Neat visualization, but as the website itself notes at the bottom (in fine print): &quot;Correlation doesn&#x27;t necessarily mean causation. Be careful when using correlations to draw causal inferences for trading or research.&quot;<p>Here&#x27;s another fun tool where you can correlate search activity by drawing an arbitrary time series: <a href="https://www.google.com/trends/correlate/draw?p=us" rel="nofollow">https:&#x2F;&#x2F;www.google.com&#x2F;trends&#x2F;correlate&#x2F;draw?p=us</a>

How about correlation to Hacker News mention of bitcoin?

There is a correlation to bitcoin repo on github. Is that the cumulative number of repo on github with &quot;bitcoin&quot; tag? or is it the activity on github.com&#x2F;bitcoin?<p>Personally, I would think that correlation to the number of bitcoin repo on github does not make sense because that is the cumulative number. However, if you can correlate to average recent activities on all bitcoin repo on github, that could be very interesting. :)

Very interesting. Let&#x27;s not forget that butter production in Bangladesh and U.S. cheese production, and sheep population in Bangladesh correlates hightly (99%) with the movements of the S&amp;P 500.<p><a href="http://nerdsonwallstreet.typepad.com/my_weblog/2007/04/stupid_data_min.html" rel="nofollow">http:&#x2F;&#x2F;nerdsonwallstreet.typepad.com&#x2F;my_weblog&#x2F;2007&#x2F;04&#x2F;stupi...</a>

This is great, but will only be of use when much more liquidity is bought to bitcoin. Right now, the Mt Gox and Newsweek debacles are the only things artificially pushing btc prices below their upwards paths. Why - is something that remains to be determined. Perhaps someone BIG needs to buy into bitcoin before the next rally ?

This seems to be correlation of the price level, not correlation of the returns. It&#x27;s pretty much a useless metric.

If you haven&#x27;t tried out Kimonolabs already go and try it out. It&#x27;s so well done.

Reminds me of this: <a href="http://i.imgur.com/gAGjP.png" rel="nofollow">http:&#x2F;&#x2F;i.imgur.com&#x2F;gAGjP.png</a>

Correlate a statistic with enough metrics, and you&#x27;re guaranteed to find a spurious match sooner or later.

Bloomberg is a dinosaur.

I think somethings wrong with the Dogecoin stats...

Pratap and the team, awesome work!

anyone know what the charting library is used for the time series graph?

As a ponzi scheme built on hype, <a href="http://www.google.com/trends/explore#q=bitcoin" rel="nofollow">http:&#x2F;&#x2F;www.google.com&#x2F;trends&#x2F;explore#q=bitcoin</a> is all you need.