WorldPay (WOP)





Bitcoin and WorldPay Correlation

Does WorldPay depend on Bitcoin? According to the correlation analysis, BTC and WOP 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 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 means that the prices of the assets are moving in the reversed direction while the positive coefficient indicates that the prices are moving in the same direction. For instance, if Bitcoin and WorldPay connection is positively strong, it means that when BTC is growing WOP will grow as well. The negative strong relation will tell that when BTC is rising WOP price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over WorldPay. If we take all the aspects affecting the price of WOP 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 aspects, such as media, events or regulations.