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WinToken (WIN)

Correlation

-0.42

Influence

17.64%

Bitcoin and WinToken Correlation

Does WinToken depend on Bitcoin? According to the correlation analysis, BTC and WIN have a strong negative relationship. The correlation coefficient of their prices is -0.42, which was estimated based on the last 100-days' price fluctuations of both currencies.

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 shows that the prices of the cryptocurrencies are moving in the reversed direction while the positive coefficient means that the prices are moving in the identical trend. For example, if Bitcoin and WinToken connection is positively strong, it means that when BTC is growing WIN will rise as well. The negative strong relation will show that when BTC is rising WIN value will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over WinToken. If we take all the things affecting the price of WIN 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 things, such as news, technological releases or regulations.