Calculate Pearson-correlation-coefficient of selected cryptocurrency with Bitcoin average price of 10 different exchanges. This is helpful in scalping(at least for me), by using this we can find co-relation between a cryptocurrency and Bitcoin . Here we are using Bitcoin average price of 10 different exchanges.
It is an oscillator with minimum value -1 and maximum value +1. π-1 means current selected cryptocurrency price is completely out of relation with Bitcoin price, means Bitcoin price increasing and it's price decreasing or Bitcoin price decreasing and it's price increasing in selected time-frame. π+1 means current selected cryptocurrency price is completely in co-relation with Bitcoin price, means Bitcoin price increasing and it's price also increasing or Bitcoin price decreasing and it's price also decreasing in selected time-frame.