FintruX (FTX)





Bitcoin and FintruX Correlation

Does FintruX depend on Bitcoin? According to the correlation analysis, BTC and FTX have a strong positive relationship. The correlation coefficient of their prices is 0.43, which was measured based on the last 100-days' price dynamics of both assets.

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 means that the prices of the coins are moving in the contrary trend while the positive coefficient means that the prices are moving in the same trend. For example, if Bitcoin and FintruX connection is positively strong, it means that when BTC is rising FTX will rise as well. The negative strong relation will indicate that when BTC is rising FTX price will be in contrary lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over FintruX. If we take all the circumstances affecting the price of FTX as 100%, then the share of BTC price among these factors will be 18.49%. The other part which is 81.51% covers all the other things, such as news, events or crypto related laws.