TajCoin (TAJ)





Bitcoin and TajCoin Correlation

Does TajCoin depend on Bitcoin? Based on the correlation analysis, BTC and TAJ have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the previous 100-days' price dynamics of both currencies.

This coefficient may range 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 cryptocurrencies are going in the contrary direction while the positive coefficient points that the prices are going in the same direction. For example, if Bitcoin and TajCoin connection is positively strong, it means that when BTC is growing TAJ will grow as well. The negative strong relation will tell that when BTC is rising TAJ price will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over TajCoin. If we take all the aspects affecting the price of TAJ 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 aspects, such as media, events or regulations.