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HealthyWorm (WORM)

Correlation

0.91

Influence

82.81%

Bitcoin and HealthyWorm Correlation

Does HealthyWorm depend on Bitcoin? According to the correlation analysis, BTC and WORM 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 fluctuations of both assets.

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 reversed trend while the positive coefficient means that the prices are going in the identical trend. For example, if Bitcoin and HealthyWorm connection is positively strong, it means that when BTC is rising WORM will grow as well. The negative strong relation will tell that when BTC is growing WORM price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over HealthyWorm. If we take all the circumstances affecting the price of WORM 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 factors, such as media, events or regulations.