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TrueGame (TGAME)

Correlation

0.89

Influence

79.21%

Bitcoin and TrueGame Correlation

Does TrueGame depend on Bitcoin? Based on the correlation analysis, BTC and TGAME have a very strong positive relationship. The correlation coefficient of their prices is 0.89, which was measured based on the previous 100-days' price fluctuations of both coins.

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 coins are going in the reversed direction while the positive coefficient indicates that the prices are going in the same direction. For example, if Bitcoin and TrueGame connection is positively strong, it means that when BTC is rising TGAME will grow as well. The negative strong relation will indicate that when BTC is rising TGAME value will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over TrueGame. If we take all the aspects affecting the price of TGAME as 100%, then the share of BTC price among these factors will be 79.21%. The other part which is 20.79% covers all the other factors, such as news, events or crypto related laws.