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Principal Components Analysis: Impact on Alternative Crypto-Currencies

Principal Components Analysis: Impact on Alternative Crypto-Currencies

Nabiha Haouas, Asma Sghaier
Copyright: © 2022 |Pages: 25
ISBN13: 9781799891178|ISBN10: 1799891178|ISBN13 Softcover: 9781799891185|EISBN13: 9781799891192
DOI: 10.4018/978-1-7998-9117-8.ch006
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MLA

Haouas, Nabiha, and Asma Sghaier. "Principal Components Analysis: Impact on Alternative Crypto-Currencies." COVID-19's Impact on the Cryptocurrency Market and the Digital Economy, edited by Nadia Mansour and Salha Ben Salem, IGI Global, 2022, pp. 82-106. https://doi.org/10.4018/978-1-7998-9117-8.ch006

APA

Haouas, N. & Sghaier, A. (2022). Principal Components Analysis: Impact on Alternative Crypto-Currencies. In N. Mansour & S. Ben Salem (Eds.), COVID-19's Impact on the Cryptocurrency Market and the Digital Economy (pp. 82-106). IGI Global. https://doi.org/10.4018/978-1-7998-9117-8.ch006

Chicago

Haouas, Nabiha, and Asma Sghaier. "Principal Components Analysis: Impact on Alternative Crypto-Currencies." In COVID-19's Impact on the Cryptocurrency Market and the Digital Economy, edited by Nadia Mansour and Salha Ben Salem, 82-106. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-7998-9117-8.ch006

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Abstract

Today, cryptocurrencies are rapidly gaining popularity and sweeping all the economies of the world, but the bulk of the literature is devoted to a few cryptocurrencies only. The purpose of this chapter is to analyze of the cryptocurrency market. More than 2000 cryptocurrencies are examined, and a set of 70 cryptocurrencies were recovered for a sample spanning 2015-2018. The degree of relationship between the variables was then investigated. The PCA was performed. This analysis allows the initial variables to be replaced by five factors that retain almost all of the information (91.028% of the total information) and have the advantage of being uncorrelated. Therefore, the authors have concluded that the first factor corresponds to the cci30 index used by the crypto funds while the rest of the factors can be distinguished according to some variants.

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