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Trias (TRY)

Correlation

0.46

Influence

21.16%

Bitcoin and Trias Correlation

Does Trias depend on Bitcoin? Based on the correlation analysis, BTC and TRY have a strong positive relationship. The correlation coefficient of their prices is 0.46, which was calculated based on the previous 100-days' price dynamics 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 means that the prices of the currencies are going in the contrary direction while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and Trias connection is positively strong, it means that when BTC is growing TRY will grow as well. The negative strong relation will tell that when BTC is growing TRY value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Trias. If we take all the circumstances affecting the price of TRY as 100%, then the share of BTC price among these factors will be 21.16%. The other part which is 78.84% covers all the other aspects, such as news, events or regulations.