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Karma (KRM)

Correlation

0.17

Influence

2.89%

Bitcoin and Karma Correlation

Does Karma depend on Bitcoin? Based on the correlation analysis, BTC and KRM have no or negligible relationship. The correlation coefficient of their values is 0.17, which was estimated based on the previous 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 points that the prices of the cryptocurrencies are going in the contrary direction while the positive coefficient tells that the prices are moving in the same direction. For example, if Bitcoin and Karma connection is positively strong, it means that when BTC is growing KRM will grow as well. The negative strong relation will point that when BTC is growing KRM value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Karma. If we take all the aspects affecting the price of KRM as 100%, then the share of BTC price among these factors will be 2.89%. The other part which is 97.11% covers all the other circumstances, such as media, events or politics.