⟷  

Gold Pressed Latinum (GPL)

Correlation

0.91

Influence

82.81%

Bitcoin and Gold Pressed Latinum Correlation

Does Gold Pressed Latinum depend on Bitcoin? According to the correlation analysis, BTC and GPL have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the last 100-days' price movements of both cryptocurrencies.

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 coins are moving in the opposite trend while the positive coefficient tells that the prices are going in the identical trend. For example, if Bitcoin and Gold Pressed Latinum connection is positively strong, it means that when BTC is growing GPL will rise as well. The negative strong relation will point that when BTC is growing GPL value will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Gold Pressed Latinum. If we take all the circumstances affecting the price of GPL 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, technological releases or crypto related laws.