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Travel Coin (TRV)

Correlation

0.26

Influence

6.76%

Bitcoin and Travel Coin Correlation

Does Travel Coin depend on Bitcoin? Based on the correlation analysis, BTC and TRV have a weak positive relationship. The correlation coefficient of their prices is 0.26, which was calculated based on the previous 100-days' price fluctuations of both assets.

This coefficient may range 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 means that the prices of the currencies are going in the reversed trend while the positive coefficient points that the prices are moving in the same direction. For instance, if Bitcoin and Travel Coin connection is positively strong, it means that when BTC is rising TRV will rise as well. The negative strong relation will indicate that when BTC is rising TRV value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Travel Coin. If we take all the things affecting the price of TRV as 100%, then the share of BTC price among these factors will be 6.76%. The other part which is 93.24% covers all the other things, such as media, technological releases or regulations.