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GameLeagueCoin (GML)

Correlation

0.36

Influence

12.96%

Bitcoin and GameLeagueCoin Correlation

Does GameLeagueCoin depend on Bitcoin? Based on the correlation analysis, BTC and GML have a moderate positive relationship. The correlation coefficient of their prices is 0.36, which was estimated based on the last 100-days' price fluctuations of both currencies.

This coefficient may range 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 cryptocurrencies are moving in the reversed direction while the positive coefficient tells that the prices are going in the identical direction. For example, if Bitcoin and GameLeagueCoin connection is positively strong, it means that when BTC is rising GML will rise as well. The negative strong relation will tell that when BTC is rising GML value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over GameLeagueCoin. If we take all the aspects affecting the price of GML as 100%, then the share of BTC price among these factors will be 12.96%. The other part which is 87.04% covers all the other aspects, such as media, events or regulations.