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Smartup (SMARTUP)

Correlation

-0.73

Influence

53.29%

Bitcoin and Smartup Correlation

Does Smartup depend on Bitcoin? Based on the correlation analysis, BTC and SMARTUP have a very strong negative relationship. The correlation coefficient of their values is -0.73, which was measured based on the previous 100-days' price movements 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 tells that the prices of the coins are going in the opposite direction while the positive coefficient tells that the prices are moving in the identical direction. For example, if Bitcoin and Smartup connection is positively strong, it means that when BTC is growing SMARTUP will rise as well. The negative strong relation will show that when BTC is growing SMARTUP value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Smartup. If we take all the circumstances affecting the price of SMARTUP as 100%, then the share of BTC price among these factors will be 53.29%. The other part which is 46.71% covers all the other things, such as media, events or politics.