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HighCastle Token (AIMS)

Correlation

0.68

Influence

46.24%

Bitcoin and HighCastle Token Correlation

Does HighCastle Token depend on Bitcoin? Based on the correlation analysis, BTC and AIMS have a strong positive relationship. The correlation coefficient of their values is 0.68, which was estimated based on the last 100-days' price dynamics of both coins.

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 points that the prices of the cryptocurrencies are moving in the contrary direction while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and HighCastle Token connection is positively strong, it means that when BTC is growing AIMS will grow as well. The negative strong relation will show that when BTC is rising AIMS price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over HighCastle Token. If we take all the aspects affecting the price of AIMS as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other aspects, such as news, technological releases or regulations.