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Intelligent Trading Technologies (ITT)

Correlation

0.68

Influence

46.24%

Bitcoin and Intelligent Trading Technologies Correlation

Does Intelligent Trading Technologies depend on Bitcoin? Based on the correlation analysis, BTC and ITT have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was computed based on the previous 100-days' price fluctuations of both assets.

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 shows that the prices of the assets are going in the reversed trend while the positive coefficient shows that the prices are going in the identical direction. For example, if Bitcoin and Intelligent Trading Technologies connection is positively strong, it means that when BTC is growing ITT will rise as well. The negative strong relation will show that when BTC is rising ITT value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Intelligent Trading Technologies. If we take all the things affecting the price of ITT 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 things, such as media, events or crypto related laws.