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MiniApps (MAT)

Correlation

0.91

Influence

82.81%

Bitcoin and MiniApps Correlation

Does MiniApps depend on Bitcoin? Based on the correlation analysis, BTC and MAT have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the last 100-days' price dynamics of both coins.

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 shows that the prices of the coins are moving in the contrary direction while the positive coefficient points that the prices are going in the same direction. For instance, if Bitcoin and MiniApps connection is positively strong, it means that when BTC is growing MAT will rise as well. The negative strong relation will point that when BTC is growing MAT value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over MiniApps. If we take all the aspects affecting the price of MAT 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 aspects, such as news, technological releases or politics.