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Futurepia (FPC)

Correlation

0.91

Influence

82.81%

Bitcoin and Futurepia Correlation

Does Futurepia depend on Bitcoin? According to the correlation analysis, BTC and FPC have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the previous 100-days' price dynamics of both currencies.

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 points that the prices of the assets are going in the contrary direction while the positive coefficient points that the prices are moving in the identical trend. For example, if Bitcoin and Futurepia connection is positively strong, it means that when BTC is growing FPC will grow as well. The negative strong relation will show that when BTC is rising FPC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Futurepia. If we take all the circumstances affecting the price of FPC 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 circumstances, such as media, events or politics.