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Crypto Tickets (TKT)

Correlation

0.68

Influence

46.24%

Bitcoin and Crypto Tickets Correlation

Does Crypto Tickets depend on Bitcoin? Based on the correlation analysis, BTC and TKT have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was measured based on the last 100-days' price dynamics of both coins.

This coefficient may range 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 means that the prices of the coins are moving in the contrary direction while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and Crypto Tickets connection is positively strong, it means that when BTC is rising TKT will rise as well. The negative strong relation will tell that when BTC is growing TKT price will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Crypto Tickets. If we take all the aspects affecting the price of TKT as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other factors, such as news, technological releases or crypto related laws.