Analysis Of Relationship Between Leo, Hive, Tron and Doge Token Using SPSS

In my previous post, I have been analyzing single token in combination with Leo token using correlation analysis test.

This article will present how effective the leo token is, whether it is related or not in combination with other altcoins.

Leo token is unique to leo finance which is a crypto platform for contents such as article and crypto interaction. You can visit leo finance website on https://leofinance.com

Hive token is unique to the hive blockchain, The hive blockchain is a platform where users gets to post article and interesting contents as regards the community that supports it. You can as well visit the hive platform via the link. https://hive.blog.

Tron is a unique token on the tron network which is a decentralized open source block chain with smart function. It has its native token called Tronix also referred to as trx coin. Visit the link to know more about tron.
https://tron.network.

Doge coin is an altcoin created with the head of a dog logo to explain and speculate the wilds of crypto currency. It uses the image of a dog to indicate a joke though. You can learn more about doge coin using the link https://dogecoin.io.

The following tokens listed with Leo finance token will be considered in this article.

In the course of this article, I shall tends to summarize a breakdown of what the article tends to cover: what type of analysis shall be covered, theories of the analysis, why the test is important, summary of test and interpretation of result.

Analysis to be covered
The type of analysis mearnt to be covered is the multiple correlation analysis. This is an analysis which measures the strength and relationship of a variable in combination with another. It is called correlation analysis.

The theories of correlation are same with others that has also been listed on my blog. They are;

Positive correlation
Positive correlation indicates that the higher the variable X, the higher the variable Y. This indicates that directionality of correlation tends towards a positive one and the coefficient of correlation is positive.

Negative correlation
Negative correlation indicates that the higher the variable X, the lower the variable Y. Hence the direction of correlation coefficient moves towards a negative one.

Zero correlation
Zero correlation indicates that there is no relationship between the variables in consideration. Meaning that we cannot say the price of leo token relates with that of tron, hive or doge. Hence the direction of relationship tends towards zero.

The coefficient for finding relationship is measured by a coefficient called correlation coefficient. The coefficient of correlation moves towards any of the afore mentioned axis.

We shall proceed with data entry into SPSS software. SPSS is a software that can be used for analysis of crypto prices. Here are the variable views and data views of both entries.

The chart of the scatter plot diagram can be seen as shown below which doesn’t really owes much explanation.

The result of correlation analysis is as presented as thus

Every token correlates with itself at 1.
Le token is highly correlated with hive token with a coefficient of 0.907= positive correlation
Leo token is highly correlated with doge with a coefficient of 0.902. = positive correlation.
Leo token is mediumly negatively correlated with that of tron.

Conclusion
This article has been able to fully represent multiple analysis between Leo token, hive, doge and tron. Tron is negatively related meaning that as the price of leo goes high, that of tron goes low by chance. Because every crypto aims at positive correlation but I am just running through how the market prices has been so far.
Asides that all other prices were positively related to leo.