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Helium (HLM)

Correlation

0.90

Influence

81.00%

Bitcoin and Helium Correlation

Does Helium depend on Bitcoin? According to the correlation analysis, BTC and HLM have a very strong positive relationship. The correlation coefficient of their values is 0.90, which was estimated based on the last 100-days' price fluctuations 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 indicates that the prices of the cryptocurrencies are moving in the reversed trend while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and Helium connection is positively strong, it means that when BTC is rising HLM will grow as well. The negative strong relation will point that when BTC is growing HLM value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Helium. If we take all the factors affecting the price of HLM as 100%, then the share of BTC price among these factors will be 81.00%. The other part which is 19.00% covers all the other things, such as news, events or crypto related laws.