Does Unattanium depend on Bitcoin? Based on the correlation analysis, BTC and UNAT have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was computed based on the last 100-days' price movements of both coins.
This coefficient may range 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 assets are moving in the opposite direction while the positive coefficient tells that the prices are moving in the identical trend. For example, if Bitcoin and Unattanium connection is positively strong, it means that when BTC is growing UNAT will rise as well. The negative strong relation will tell that when BTC is rising UNAT price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Unattanium. If we take all the things affecting the price of UNAT 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 things, such as news, events or politics.