Bitcoin and FLiK Correlation

Does FLiK depend on Bitcoin? Based on the correlation analysis, BTC and FLIK have a strong positive relationship. The correlation coefficient of their values is 0.68, which was computed based on the previous 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 tells that the prices of the assets are going in the contrary direction while the positive coefficient means that the prices are moving in the identical direction. For instance, if Bitcoin and FLiK connection is positively strong, it means that when BTC is rising FLIK will rise as well. The negative strong relation will tell that when BTC is rising FLIK value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over FLiK. If we take all the circumstances affecting the price of FLIK as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other circumstances, such as media, technological releases or politics.