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Insane Coin (INSN)

Correlation

0.82

Influence

67.24%

Bitcoin and Insane Coin Correlation

Does Insane Coin depend on Bitcoin? Based on the correlation analysis, BTC and INSN have a very strong positive relationship. The correlation coefficient of their values is 0.82, which was measured based on the last 100-days' price fluctuations of both assets.

This coefficient may adjust 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 coins are moving in the reversed trend while the positive coefficient means that the prices are going in the identical direction. For instance, if Bitcoin and Insane Coin connection is positively strong, it means that when BTC is growing INSN will rise as well. The negative strong relation will show that when BTC is growing INSN value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Insane Coin. If we take all the aspects affecting the price of INSN as 100%, then the share of BTC price among these factors will be 67.24%. The other part which is 32.76% covers all the other factors, such as news, technological releases or crypto related laws.