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Fieldcoin (FLC)

Correlation

0.79

Influence

62.41%

Bitcoin and Fieldcoin Correlation

Does Fieldcoin depend on Bitcoin? Based on the correlation analysis, BTC and FLC have a very strong positive relationship. The correlation coefficient of their prices is 0.79, 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 shows that the prices of the coins are moving in the contrary direction while the positive coefficient points that the prices are going in the same direction. For instance, if Bitcoin and Fieldcoin connection is positively strong, it means that when BTC is rising FLC will grow as well. The negative strong relation will tell that when BTC is rising FLC price will be in opposite lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Fieldcoin. If we take all the factors affecting the price of FLC as 100%, then the share of BTC price among these factors will be 62.41%. The other part which is 37.59% covers all the other circumstances, such as media, technological releases or crypto related laws.