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Frankywillcoin (FRWC)

Correlation

0.91

Influence

82.81%

Bitcoin and Frankywillcoin Correlation

Does Frankywillcoin depend on Bitcoin? According to the correlation analysis, BTC and FRWC have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price fluctuations 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 points that the prices of the assets are moving in the reversed trend while the positive coefficient points that the prices are moving in the same direction. For example, if Bitcoin and Frankywillcoin connection is positively strong, it means that when BTC is growing FRWC will grow as well. The negative strong relation will tell that when BTC is growing FRWC price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Frankywillcoin. If we take all the things affecting the price of FRWC 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 things, such as media, events or politics.