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Tokia (TKA)

Correlation

0.84

Influence

70.56%

Bitcoin and Tokia Correlation

Does Tokia depend on Bitcoin? According to the correlation analysis, BTC and TKA have a very strong positive relationship. The correlation coefficient of their prices is 0.84, which was calculated based on the last 100-days' price dynamics of both currencies.

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 indicates that the prices of the currencies are moving in the contrary direction while the positive coefficient means that the prices are moving in the same trend. For instance, if Bitcoin and Tokia connection is positively strong, it means that when BTC is rising TKA will grow as well. The negative strong relation will tell that when BTC is growing TKA value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Tokia. If we take all the factors affecting the price of TKA as 100%, then the share of BTC price among these factors will be 70.56%. The other part which is 29.44% covers all the other factors, such as media, events or politics.