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CryptoFocus (FCS)

Correlation

0.91

Influence

82.81%

Bitcoin and CryptoFocus Correlation

Does CryptoFocus depend on Bitcoin? According to the correlation analysis, BTC and FCS have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was calculated based on the last 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 tells that the prices of the currencies are moving in the opposite direction while the positive coefficient indicates that the prices are moving in the identical trend. For example, if Bitcoin and CryptoFocus connection is positively strong, it means that when BTC is growing FCS will grow as well. The negative strong relation will indicate that when BTC is rising FCS value will be in contrary lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over CryptoFocus. If we take all the factors affecting the price of FCS 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 media, events or crypto related laws.