Does Lamden Tau depend on Bitcoin? Based on the correlation analysis, BTC and TAU have a strong positive relationship. The correlation coefficient of their prices is 0.61, 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 means that the prices of the assets are moving in the contrary direction while the positive coefficient means that the prices are moving in the identical trend. For instance, if Bitcoin and Lamden Tau connection is positively strong, it means that when BTC is growing TAU will grow as well. The negative strong relation will indicate that when BTC is growing TAU value will be in opposite decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Lamden Tau. If we take all the aspects affecting the price of TAU as 100%, then the share of BTC price among these factors will be 37.21%. The other part which is 62.79% covers all the other factors, such as media, technological releases or politics.