TitCoin (TIT)





Bitcoin and TitCoin Correlation

Does TitCoin depend on Bitcoin? According to the correlation analysis, BTC and TIT have no relationship. The correlation coefficient of their prices is 0.00, which was computed based on the last 100-days' price dynamics of both cryptocurrencies.

This coefficient may vary 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 assets are moving in the contrary trend while the positive coefficient indicates that the prices are going in the same trend. For example, if Bitcoin and TitCoin connection is positively strong, it means that when BTC is rising TIT will rise as well. The negative strong relation will show that when BTC is growing TIT price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over TitCoin. If we take all the factors affecting the price of TIT as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other aspects, such as news, events or politics.