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Tresorio HUB (HUB)

Correlation

0.91

Influence

82.81%

Bitcoin and Tresorio HUB Correlation

Does Tresorio HUB depend on Bitcoin? Based on the correlation analysis, BTC and HUB have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price movements of both currencies.

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 points that the prices of the assets are moving in the opposite direction while the positive coefficient shows that the prices are moving in the identical direction. For instance, if Bitcoin and Tresorio HUB connection is positively strong, it means that when BTC is growing HUB will grow as well. The negative strong relation will show that when BTC is rising HUB price will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Tresorio HUB. If we take all the circumstances affecting the price of HUB as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other things, such as news, events or politics.