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InvestFeed (IFT)

Correlation

0.54

Influence

29.16%

Bitcoin and InvestFeed Correlation

Does InvestFeed depend on Bitcoin? According to the correlation analysis, BTC and IFT have a strong positive relationship. The correlation coefficient of their values is 0.54, which was estimated based on the previous 100-days' price fluctuations of both coins.

This coefficient may change 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 cryptocurrencies are going in the reversed direction while the positive coefficient means that the prices are moving in the identical direction. For example, if Bitcoin and InvestFeed connection is positively strong, it means that when BTC is growing IFT will grow as well. The negative strong relation will indicate that when BTC is growing IFT value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over InvestFeed. If we take all the factors affecting the price of IFT as 100%, then the share of BTC price among these factors will be 29.16%. The other part which is 70.84% covers all the other things, such as media, events or crypto related laws.