007 coin (007)





Bitcoin and 007 coin Correlation

Does 007 coin depend on Bitcoin? According to the correlation analysis, BTC and 007 have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was estimated based on the last 100-days' price dynamics of both coins.

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 means that the prices of the cryptocurrencies are moving in the contrary direction while the positive coefficient means that the prices are moving in the identical trend. For instance, if Bitcoin and 007 coin connection is positively strong, it means that when BTC is growing 007 will rise as well. The negative strong relation will indicate that when BTC is growing 007 value will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over 007 coin. If we take all the circumstances affecting the price of 007 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 factors, such as news, events or crypto related laws.