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Smart Investment Fund Token (SIFT)

Correlation

0.91

Influence

82.81%

Bitcoin and Smart Investment Fund Token Correlation

Does Smart Investment Fund Token depend on Bitcoin? Based on the correlation analysis, BTC and SIFT have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price movements of both cryptocurrencies.

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 points that the prices of the assets are moving in the opposite trend while the positive coefficient means that the prices are going in the same direction. For example, if Bitcoin and Smart Investment Fund Token connection is positively strong, it means that when BTC is growing SIFT will grow as well. The negative strong relation will tell that when BTC is growing SIFT price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Smart Investment Fund Token. If we take all the factors affecting the price of SIFT 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 factors, such as media, technological releases or regulations.