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LaLa World (LALA)

Correlation

0.41

Influence

16.81%

Bitcoin and LaLa World Correlation

Does LaLa World depend on Bitcoin? Based on the correlation analysis, BTC and LALA have a strong positive relationship. The correlation coefficient of their values is 0.41, which was estimated based on the previous 100-days' price movements 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 points that the prices of the cryptocurrencies are going in the opposite trend while the positive coefficient points that the prices are moving in the same trend. For instance, if Bitcoin and LaLa World connection is positively strong, it means that when BTC is growing LALA will rise as well. The negative strong relation will show that when BTC is growing LALA price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over LaLa World. If we take all the aspects affecting the price of LALA as 100%, then the share of BTC price among these factors will be 16.81%. The other part which is 83.19% covers all the other aspects, such as news, technological releases or crypto related laws.