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Francs (FRN)

Correlation

0.91

Influence

82.81%

Bitcoin and Francs Correlation

Does Francs depend on Bitcoin? Based on the correlation analysis, BTC and FRN have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the previous 100-days' price dynamics 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 tells that the prices of the coins are going in the contrary direction while the positive coefficient tells that the prices are moving in the identical trend. For instance, if Bitcoin and Francs connection is positively strong, it means that when BTC is rising FRN will grow as well. The negative strong relation will point that when BTC is growing FRN value will be in opposite lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Francs. If we take all the things affecting the price of FRN 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 politics.