365Coin (365)





Bitcoin and 365Coin Correlation

Does 365Coin depend on Bitcoin? Based on the correlation analysis, BTC and 365 have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the previous 100-days' price fluctuations of both cryptocurrencies.

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 shows that the prices of the coins are going in the reversed trend while the positive coefficient means that the prices are moving in the same direction. For example, if Bitcoin and 365Coin connection is positively strong, it means that when BTC is rising 365 will rise as well. The negative strong relation will indicate that when BTC is rising 365 value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over 365Coin. If we take all the things affecting the price of 365 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 media, events or regulations.