⟷  

FunFair (FUN)

Correlation

-0.70

Influence

49.00%

Bitcoin and FunFair Correlation

Does FunFair depend on Bitcoin? According to the correlation analysis, BTC and FUN have a very strong negative relationship. The correlation coefficient of their prices is -0.70, which was measured based on the last 100-days' price movements of both coins.

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 opposite direction while the positive coefficient points that the prices are moving in the same trend. For instance, if Bitcoin and FunFair connection is positively strong, it means that when BTC is growing FUN will grow as well. The negative strong relation will indicate that when BTC is rising FUN price will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over FunFair. If we take all the factors affecting the price of FUN as 100%, then the share of BTC price among these factors will be 49.00%. The other part which is 51.00% covers all the other factors, such as news, events or regulations.