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I-House Token (IHT)

Correlation

0.69

Influence

47.61%

Bitcoin and I-House Token Correlation

Does I-House Token depend on Bitcoin? Based on the correlation analysis, BTC and IHT have a strong positive relationship. The correlation coefficient of their prices is 0.69, which was estimated based on the last 100-days' price fluctuations of both currencies.

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 means that the prices of the cryptocurrencies are moving in the reversed direction while the positive coefficient tells that the prices are going in the identical direction. For example, if Bitcoin and I-House Token connection is positively strong, it means that when BTC is growing IHT will rise as well. The negative strong relation will indicate that when BTC is growing IHT price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over I-House Token. If we take all the circumstances affecting the price of IHT as 100%, then the share of BTC price among these factors will be 47.61%. The other part which is 52.39% covers all the other aspects, such as news, events or crypto related laws.