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Ruff (RUFF)

Correlation

0.74

Influence

54.76%

Bitcoin and Ruff Correlation

Does Ruff depend on Bitcoin? According to the correlation analysis, BTC and RUFF have a very strong positive relationship. The correlation coefficient of their values is 0.74, which was computed based on the previous 100-days' price dynamics of both currencies.

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 tells that the prices of the assets are going in the contrary direction while the positive coefficient means that the prices are moving in the identical direction. For example, if Bitcoin and Ruff connection is positively strong, it means that when BTC is growing RUFF will rise as well. The negative strong relation will tell that when BTC is growing RUFF price will be in opposite lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Ruff. If we take all the aspects affecting the price of RUFF as 100%, then the share of BTC price among these factors will be 54.76%. The other part which is 45.24% covers all the other factors, such as media, events or crypto related laws.