Thread by @Cuttingwedge

Do any altcoins have a relevant relationship between #S2F and their value?

I downloaded 77 data sets from #coinmetrics and let stata perform #S2F #cointegration testing whenever possible.

What surprised me most, was that of these 77 #altcoins, most did not even have a #S2F ratio, as they are premined. In other cases market capitalization was unavailable in the coinmetrics data set.

But for 17 #altcoins it was possible to perform #EngleGranger and #Johansen Tests for cointegration (coin-tegration 😁)

But the results are here!

You see that often the tests don't agree whether or not there is cointegration.

But whenever they do agree, that there is no cointegration, we can be pretty certain that that result will survive more scrutiny. Thus, for $ETH, $LTC and $ETC, I am pretty certain that...

...there is NO Cointegration.

The one coin that I already had a closer look on is $BCH.
Even though the more powerful Johansen
test finds cointegration, this result is a no starter. $BCH's #S2F ratio is not I(1), and thus no cointegration is possible.

As to the question of $btg $bsv $dash $dcr $dgb $doge $grin $xmr $xtz $xvg $vtc and $zec I promise to look into them more closely to determine which #MarketCap is driven by #S2F and which not.

In my experience, however there is a tendency for altcoins to have not cointegration with their #S2F ratios but with the price of #BTC. This implies that even now, #altcoins are seen by a lot of people as a "somehow bitcoiny" thing and not as independent currencies.