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CryptoInsight (TKR)

Correlation

0.68

Influence

46.24%

Bitcoin and CryptoInsight Correlation

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

This coefficient may adjust 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 trend while the positive coefficient indicates that the prices are going in the identical direction. For example, if Bitcoin and CryptoInsight connection is positively strong, it means that when BTC is growing TKR will rise as well. The negative strong relation will indicate that when BTC is growing TKR price will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over CryptoInsight. If we take all the factors affecting the price of TKR 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 aspects, such as news, technological releases or regulations.