Ethereum.Link (LNK)





Bitcoin and Ethereum.Link Correlation

Does Ethereum.Link depend on Bitcoin? According to the correlation analysis, BTC and LNK 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 dynamics of both cryptocurrencies.

This coefficient may vary 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 points that the prices of the currencies are moving in the contrary trend while the positive coefficient tells that the prices are moving in the identical trend. For instance, if Bitcoin and Ethereum.Link connection is positively strong, it means that when BTC is rising LNK will grow as well. The negative strong relation will show that when BTC is rising LNK value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Ethereum.Link. If we take all the aspects affecting the price of LNK 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 politics.