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Trinity Network Credit (TNC)

Correlation

0.70

Influence

49.00%

Bitcoin and Trinity Network Credit Correlation

Does Trinity Network Credit depend on Bitcoin? According to the correlation analysis, BTC and TNC have a very strong positive relationship. The correlation coefficient of their values is 0.70, which was estimated based on the previous 100-days' price dynamics of both cryptocurrencies.

This coefficient may vary 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 cryptocurrencies are going in the contrary trend while the positive coefficient shows that the prices are going in the identical direction. For instance, if Bitcoin and Trinity Network Credit connection is positively strong, it means that when BTC is rising TNC will grow as well. The negative strong relation will indicate that when BTC is growing TNC price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Trinity Network Credit. If we take all the circumstances affecting the price of TNC as 100%, then the share of BTC price among these factors will be 49.00%. The other part which is 51.00% covers all the other things, such as media, events or politics.