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BTU Protocol (BTU)

Correlation

0.62

Influence

38.44%

Bitcoin and BTU Protocol Correlation

Does BTU Protocol depend on Bitcoin? According to the correlation analysis, BTC and BTU have a strong positive relationship. The correlation coefficient of their values is 0.62, which was calculated based on the last 100-days' price dynamics of both cryptocurrencies.

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 points that the prices of the currencies are moving in the contrary trend while the positive coefficient means that the prices are moving in the identical trend. For example, if Bitcoin and BTU Protocol connection is positively strong, it means that when BTC is rising BTU will rise as well. The negative strong relation will indicate that when BTC is rising BTU price will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over BTU Protocol. If we take all the factors affecting the price of BTU as 100%, then the share of BTC price among these factors will be 38.44%. The other part which is 61.56% covers all the other circumstances, such as media, technological releases or politics.