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Pascal Lite (PASL)

Correlation

0.91

Influence

82.81%

Bitcoin and Pascal Lite Correlation

Does Pascal Lite depend on Bitcoin? Based on the correlation analysis, BTC and PASL have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the previous 100-days' price movements 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 indicates that the prices of the coins are going in the opposite direction while the positive coefficient means that the prices are moving in the identical direction. For instance, if Bitcoin and Pascal Lite connection is positively strong, it means that when BTC is growing PASL will grow as well. The negative strong relation will tell that when BTC is rising PASL value will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Pascal Lite. If we take all the things affecting the price of PASL 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 things, such as media, events or regulations.