Does Invictus Hyperion Fund depend on Bitcoin? Based on the correlation analysis, BTC and IHF have a strong positive relationship. The correlation coefficient of their values is 0.60, which was computed based on the last 100-days' price dynamics of both currencies.
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 indicates that the prices of the assets are moving in the contrary direction while the positive coefficient shows that the prices are moving in the identical trend. For instance, if Bitcoin and Invictus Hyperion Fund connection is positively strong, it means that when BTC is growing IHF will grow as well. The negative strong relation will tell that when BTC is growing IHF value will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Invictus Hyperion Fund. If we take all the things affecting the price of IHF as 100%, then the share of BTC price among these factors will be 36.00%. The other part which is 64.00% covers all the other circumstances, such as news, technological releases or crypto related laws.