⟷  

BitStash (STASH)

Correlation

-0.37

Influence

13.69%

Bitcoin and BitStash Correlation

Does BitStash depend on Bitcoin? According to the correlation analysis, BTC and STASH have a moderate negative relationship. The correlation coefficient of their prices is -0.37, which was estimated based on the previous 100-days' price dynamics of both currencies.

This coefficient may change from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.

The negative coefficient shows that the prices of the cryptocurrencies are going in the contrary direction while the positive coefficient tells that the prices are moving in the identical direction. For example, if Bitcoin and BitStash connection is positively strong, it means that when BTC is growing STASH will rise as well. The negative strong relation will point that when BTC is rising STASH price will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over BitStash. If we take all the things affecting the price of STASH as 100%, then the share of BTC price among these factors will be 13.69%. The other part which is 86.31% covers all the other things, such as news, events or regulations.