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LoyalCoin (LYL)

Correlation

0.92

Influence

84.64%

Bitcoin and LoyalCoin Correlation

Does LoyalCoin depend on Bitcoin? Based on the correlation analysis, BTC and LYL have a very strong positive relationship. The correlation coefficient of their values is 0.92, which was measured based on the last 100-days' price dynamics of both coins.

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 coins are moving in the contrary direction while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and LoyalCoin connection is positively strong, it means that when BTC is rising LYL will grow as well. The negative strong relation will point that when BTC is growing LYL value will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over LoyalCoin. If we take all the factors affecting the price of LYL as 100%, then the share of BTC price among these factors will be 84.64%. The other part which is 15.36% covers all the other aspects, such as news, technological releases or politics.