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MasterTraderCoin (MTR)

Correlation

0.91

Influence

82.81%

Bitcoin and MasterTraderCoin Correlation

Does MasterTraderCoin depend on Bitcoin? Based on the correlation analysis, BTC and MTR have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the previous 100-days' price fluctuations 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 currencies are going in the reversed direction while the positive coefficient shows that the prices are going in the identical trend. For example, if Bitcoin and MasterTraderCoin connection is positively strong, it means that when BTC is growing MTR will grow as well. The negative strong relation will tell that when BTC is growing MTR price will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over MasterTraderCoin. If we take all the things affecting the price of MTR as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other factors, such as news, events or politics.