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LHCoin (LHC)

Correlation

0.68

Influence

46.24%

Bitcoin and LHCoin Correlation

Does LHCoin depend on Bitcoin? According to the correlation analysis, BTC and LHC have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was computed based on the previous 100-days' price dynamics of both assets.

This coefficient may vary 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 shows that the prices of the assets are going in the contrary trend while the positive coefficient means that the prices are moving in the same direction. For example, if Bitcoin and LHCoin connection is positively strong, it means that when BTC is rising LHC will grow as well. The negative strong relation will show that when BTC is rising LHC value will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over LHCoin. If we take all the things affecting the price of LHC as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other aspects, such as news, events or crypto related laws.