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FastCoin (FST)

Correlation

0.91

Influence

82.81%

Bitcoin and FastCoin Correlation

Does FastCoin depend on Bitcoin? Based on the correlation analysis, BTC and FST have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the last 100-days' price fluctuations of both currencies.

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 points that the prices of the coins are moving in the reversed direction while the positive coefficient tells that the prices are moving in the identical direction. For instance, if Bitcoin and FastCoin connection is positively strong, it means that when BTC is growing FST will grow as well. The negative strong relation will tell that when BTC is rising FST price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over FastCoin. If we take all the things affecting the price of FST 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 factors, such as news, technological releases or regulations.