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Trivecoin (TRVC)

Correlation

0.68

Influence

46.24%

Bitcoin and Trivecoin Correlation

Does Trivecoin depend on Bitcoin? According to the correlation analysis, BTC and TRVC have a strong positive relationship. The correlation coefficient of their values is 0.68, which was measured based on the previous 100-days' price movements of both assets.

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 coins are going in the opposite trend while the positive coefficient tells that the prices are going in the identical direction. For example, if Bitcoin and Trivecoin connection is positively strong, it means that when BTC is rising TRVC will rise as well. The negative strong relation will tell that when BTC is rising TRVC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Trivecoin. If we take all the factors affecting the price of TRVC as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other factors, such as media, events or regulations.