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SaluS (SLS)

Correlation

0.86

Influence

73.96%

Bitcoin and SaluS Correlation

Does SaluS depend on Bitcoin? According to the correlation analysis, BTC and SLS have a very strong positive relationship. The correlation coefficient of their values is 0.86, which was estimated based on the last 100-days' price dynamics of both cryptocurrencies.

This coefficient may vary 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 cryptocurrencies are moving in the contrary trend while the positive coefficient indicates that the prices are going in the identical direction. For example, if Bitcoin and SaluS connection is positively strong, it means that when BTC is rising SLS will grow as well. The negative strong relation will show that when BTC is growing SLS value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over SaluS. If we take all the circumstances affecting the price of SLS as 100%, then the share of BTC price among these factors will be 73.96%. The other part which is 26.04% covers all the other things, such as media, events or crypto related laws.