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Clockcoin (CKC)

Correlation

0.91

Influence

82.81%

Bitcoin and Clockcoin Correlation

Does Clockcoin depend on Bitcoin? According to the correlation analysis, BTC and CKC have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the last 100-days' price fluctuations of both coins.

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 coins are moving in the reversed direction while the positive coefficient means that the prices are going in the identical direction. For example, if Bitcoin and Clockcoin connection is positively strong, it means that when BTC is rising CKC will grow as well. The negative strong relation will point that when BTC is growing CKC price will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Clockcoin. If we take all the circumstances affecting the price of CKC as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other circumstances, such as news, events or regulations.