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TrumpCoin (TRUMP)

Correlation

0.83

Influence

68.89%

Bitcoin and TrumpCoin Correlation

Does TrumpCoin depend on Bitcoin? According to the correlation analysis, BTC and TRUMP have a very strong positive relationship. The correlation coefficient of their prices is 0.83, which was calculated based on the previous 100-days' price fluctuations of both assets.

This coefficient may change 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 currencies are going in the reversed trend while the positive coefficient points that the prices are going in the same trend. For instance, if Bitcoin and TrumpCoin connection is positively strong, it means that when BTC is rising TRUMP will rise as well. The negative strong relation will indicate that when BTC is growing TRUMP value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over TrumpCoin. If we take all the things affecting the price of TRUMP as 100%, then the share of BTC price among these factors will be 68.89%. The other part which is 31.11% covers all the other aspects, such as news, events or crypto related laws.