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Holo (HOT)

Correlation

0.75

Influence

56.25%

Bitcoin and Holo Correlation

Does Holo depend on Bitcoin? Based on the correlation analysis, BTC and HOT have a very strong positive relationship. The correlation coefficient of their values is 0.75, which was measured based on the last 100-days' price dynamics of both cryptocurrencies.

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 tells that the prices of the coins are moving in the contrary trend while the positive coefficient means that the prices are going in the same trend. For example, if Bitcoin and Holo connection is positively strong, it means that when BTC is rising HOT will rise as well. The negative strong relation will point that when BTC is rising HOT value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Holo. If we take all the circumstances affecting the price of HOT as 100%, then the share of BTC price among these factors will be 56.25%. The other part which is 43.75% covers all the other circumstances, such as media, technological releases or regulations.