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Flappy Coin (FLAP)

Correlation

0.91

Influence

82.81%

Bitcoin and Flappy Coin Correlation

Does Flappy Coin depend on Bitcoin? According to the correlation analysis, BTC and FLAP 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 movements of both assets.

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 tells that the prices of the coins are moving in the opposite trend while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and Flappy Coin connection is positively strong, it means that when BTC is growing FLAP will rise as well. The negative strong relation will show that when BTC is rising FLAP value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Flappy Coin. If we take all the circumstances affecting the price of FLAP 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, events or politics.