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LuckChain (BASH)

Correlation

-0.11

Influence

1.21%

Bitcoin and LuckChain Correlation

Does LuckChain depend on Bitcoin? According to the correlation analysis, BTC and BASH have no or negligible relationship. The correlation coefficient of their prices is -0.11, which was measured based on the previous 100-days' price fluctuations of both assets.

This coefficient may change 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 indicates that the prices of the coins are going in the reversed trend while the positive coefficient points that the prices are going in the same trend. For instance, if Bitcoin and LuckChain connection is positively strong, it means that when BTC is rising BASH will rise as well. The negative strong relation will show that when BTC is rising BASH price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over LuckChain. If we take all the things affecting the price of BASH as 100%, then the share of BTC price among these factors will be 1.21%. The other part which is 98.79% covers all the other aspects, such as news, technological releases or regulations.