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True Flip Lottery (TFL)

Correlation

0.42

Influence

17.64%

Bitcoin and True Flip Lottery Correlation

Does True Flip Lottery depend on Bitcoin? According to the correlation analysis, BTC and TFL have a strong positive relationship. The correlation coefficient of their prices is 0.42, which was measured based on the last 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 means that the prices of the coins are moving in the opposite trend while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and True Flip Lottery connection is positively strong, it means that when BTC is rising TFL will grow as well. The negative strong relation will point that when BTC is growing TFL price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over True Flip Lottery. If we take all the things affecting the price of TFL as 100%, then the share of BTC price among these factors will be 17.64%. The other part which is 82.36% covers all the other circumstances, such as media, events or politics.