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Travala (AVALA)

Correlation

-0.24

Influence

5.76%

Bitcoin and Travala Correlation

Does Travala depend on Bitcoin? According to the correlation analysis, BTC and AVALA have a weak negative relationship. The correlation coefficient of their values is -0.24, which was measured 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 tells that the prices of the coins are moving in the contrary trend while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and Travala connection is positively strong, it means that when BTC is rising AVALA will grow as well. The negative strong relation will point that when BTC is growing AVALA price will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Travala. If we take all the factors affecting the price of AVALA as 100%, then the share of BTC price among these factors will be 5.76%. The other part which is 94.24% covers all the other aspects, such as media, technological releases or crypto related laws.