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InCoin (IN)

Correlation

0.01

Influence

0.01%

Bitcoin and InCoin Correlation

Does InCoin depend on Bitcoin? According to the correlation analysis, BTC and IN have no or negligible relationship. The correlation coefficient of their values is 0.01, which was measured based on the previous 100-days' price dynamics of both currencies.

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 tells that the prices of the coins are going in the contrary direction while the positive coefficient indicates that the prices are going in the same direction. For example, if Bitcoin and InCoin connection is positively strong, it means that when BTC is rising IN will grow as well. The negative strong relation will indicate that when BTC is rising IN value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over InCoin. If we take all the things affecting the price of IN as 100%, then the share of BTC price among these factors will be 0.01%. The other part which is 99.99% covers all the other circumstances, such as news, technological releases or regulations.