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TerraCoin (TRC)

Correlation

0.90

Influence

81.00%

Bitcoin and TerraCoin Correlation

Does TerraCoin depend on Bitcoin? Based on the correlation analysis, BTC and TRC have a very strong positive relationship. The correlation coefficient of their prices is 0.90, which was calculated based on the previous 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 indicates that the prices of the currencies are going in the contrary trend while the positive coefficient points that the prices are moving in the identical direction. For instance, if Bitcoin and TerraCoin connection is positively strong, it means that when BTC is growing TRC will grow as well. The negative strong relation will point that when BTC is growing TRC price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over TerraCoin. If we take all the factors affecting the price of TRC as 100%, then the share of BTC price among these factors will be 81.00%. The other part which is 19.00% covers all the other factors, such as media, events or politics.