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Crowdholding (YUP)

Correlation

0.65

Influence

42.25%

Bitcoin and Crowdholding Correlation

Does Crowdholding depend on Bitcoin? According to the correlation analysis, BTC and YUP have a strong positive relationship. The correlation coefficient of their values is 0.65, which was measured based on the previous 100-days' price movements 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 indicates that the prices of the coins are going in the opposite direction while the positive coefficient means that the prices are going in the same trend. For example, if Bitcoin and Crowdholding connection is positively strong, it means that when BTC is rising YUP will rise as well. The negative strong relation will point that when BTC is growing YUP price will be in opposite lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Crowdholding. If we take all the aspects affecting the price of YUP as 100%, then the share of BTC price among these factors will be 42.25%. The other part which is 57.75% covers all the other circumstances, such as media, events or crypto related laws.