Does TARUSH depend on Bitcoin? According to the correlation analysis, BTC and TAS have no or negligible relationship. The correlation coefficient of their prices is 0.13, which was calculated based on the last 100-days' price dynamics of both assets.
This coefficient may change 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 shows that the prices of the currencies are moving in the contrary trend while the positive coefficient tells that the prices are moving in the same direction. For instance, if Bitcoin and TARUSH connection is positively strong, it means that when BTC is growing TAS will rise as well. The negative strong relation will point that when BTC is rising TAS value will be in opposite lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over TARUSH. If we take all the things affecting the price of TAS as 100%, then the share of BTC price among these factors will be 1.69%. The other part which is 98.31% covers all the other factors, such as news, events or regulations.