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ZatGo (ZAT)

Correlation

0.61

Influence

37.21%

Bitcoin and ZatGo Correlation

Does ZatGo depend on Bitcoin? According to the correlation analysis, BTC and ZAT have a strong positive relationship. The correlation coefficient of their values is 0.61, which was computed based on the last 100-days' price dynamics of both assets.

This coefficient may vary 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 points that the prices of the assets are moving in the contrary trend while the positive coefficient tells that the prices are going in the identical trend. For instance, if Bitcoin and ZatGo connection is positively strong, it means that when BTC is growing ZAT will rise as well. The negative strong relation will show that when BTC is growing ZAT value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over ZatGo. If we take all the things affecting the price of ZAT as 100%, then the share of BTC price among these factors will be 37.21%. The other part which is 62.79% covers all the other factors, such as news, technological releases or politics.