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TrollTokens (TKN*)

Correlation

0.91

Influence

82.81%

Bitcoin and TrollTokens Correlation

Does TrollTokens depend on Bitcoin? Based on the correlation analysis, BTC and TKN* have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was estimated based on the previous 100-days' price fluctuations 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 means that the prices of the cryptocurrencies are going in the reversed trend while the positive coefficient tells that the prices are moving in the identical trend. For instance, if Bitcoin and TrollTokens connection is positively strong, it means that when BTC is growing TKN* will grow as well. The negative strong relation will tell that when BTC is growing TKN* price will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over TrollTokens. If we take all the aspects affecting the price of TKN* 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 circumstances, such as news, technological releases or politics.