⟷  

Salt Lending (SALT)

Correlation

0.68

Influence

46.24%

Bitcoin and Salt Lending Correlation

Does Salt Lending depend on Bitcoin? According to the correlation analysis, BTC and SALT have a strong positive relationship. The correlation coefficient of their values is 0.68, which was measured based on the previous 100-days' price movements of both assets.

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 coins are going in the opposite trend while the positive coefficient indicates that the prices are moving in the identical trend. For instance, if Bitcoin and Salt Lending connection is positively strong, it means that when BTC is growing SALT will grow as well. The negative strong relation will tell that when BTC is rising SALT price will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Salt Lending. If we take all the circumstances affecting the price of SALT as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other things, such as media, events or crypto related laws.