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Gainfy (GAIN)

Correlation

0.91

Influence

82.81%

Bitcoin and Gainfy Correlation

Does Gainfy depend on Bitcoin? According to the correlation analysis, BTC and GAIN 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 fluctuations of both cryptocurrencies.

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 coins are going in the reversed trend while the positive coefficient indicates that the prices are moving in the same trend. For example, if Bitcoin and Gainfy connection is positively strong, it means that when BTC is rising GAIN will grow as well. The negative strong relation will point that when BTC is growing GAIN price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Gainfy. If we take all the aspects affecting the price of GAIN 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.