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Pirate Chain (ARRR)

Correlation

-0.04

Influence

0.16%

Bitcoin and Pirate Chain Correlation

Does Pirate Chain depend on Bitcoin? Based on the correlation analysis, BTC and ARRR have no or negligible relationship. The correlation coefficient of their prices is -0.04, which was measured based on the previous 100-days' price fluctuations 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 going in the reversed direction while the positive coefficient points that the prices are going in the same trend. For instance, if Bitcoin and Pirate Chain connection is positively strong, it means that when BTC is growing ARRR will rise as well. The negative strong relation will show that when BTC is growing ARRR value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Pirate Chain. If we take all the circumstances affecting the price of ARRR as 100%, then the share of BTC price among these factors will be 0.16%. The other part which is 99.84% covers all the other factors, such as media, technological releases or regulations.