⟷  

Swarm City Token (SWT)

Correlation

-0.47

Influence

22.09%

Bitcoin and Swarm City Token Correlation

Does Swarm City Token depend on Bitcoin? Based on the correlation analysis, BTC and SWT have a strong negative relationship. The correlation coefficient of their values is -0.47, which was computed based on the last 100-days' price dynamics 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 tells that the prices of the assets are moving in the contrary trend while the positive coefficient tells that the prices are going in the same trend. For example, if Bitcoin and Swarm City Token connection is positively strong, it means that when BTC is growing SWT will grow as well. The negative strong relation will indicate that when BTC is rising SWT value will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Swarm City Token. If we take all the circumstances affecting the price of SWT as 100%, then the share of BTC price among these factors will be 22.09%. The other part which is 77.91% covers all the other things, such as news, technological releases or regulations.