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TrollPlay (TPAY)

Correlation

0.72

Influence

51.84%

Bitcoin and TrollPlay Correlation

Does TrollPlay depend on Bitcoin? Based on the correlation analysis, BTC and TPAY have a very strong positive relationship. The correlation coefficient of their prices is 0.72, which was computed based on the last 100-days' price dynamics of both assets.

This coefficient may adjust 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 shows that the prices of the assets are moving in the contrary trend while the positive coefficient tells that the prices are moving in the identical trend. For instance, if Bitcoin and TrollPlay connection is positively strong, it means that when BTC is growing TPAY will rise as well. The negative strong relation will tell that when BTC is growing TPAY value will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over TrollPlay. If we take all the circumstances affecting the price of TPAY as 100%, then the share of BTC price among these factors will be 51.84%. The other part which is 48.16% covers all the other aspects, such as media, events or crypto related laws.