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Accelerator Network (ACC*)

Correlation

0.89

Influence

79.21%

Bitcoin and Accelerator Network Correlation

Does Accelerator Network depend on Bitcoin? According to the correlation analysis, BTC and ACC* have a very strong positive relationship. The correlation coefficient of their values is 0.89, which was estimated based on the previous 100-days' price fluctuations of both currencies.

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 tells that the prices of the cryptocurrencies are going in the reversed direction while the positive coefficient shows that the prices are going in the identical direction. For example, if Bitcoin and Accelerator Network connection is positively strong, it means that when BTC is rising ACC* will rise as well. The negative strong relation will indicate that when BTC is growing ACC* price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Accelerator Network. If we take all the circumstances affecting the price of ACC* as 100%, then the share of BTC price among these factors will be 79.21%. The other part which is 20.79% covers all the other circumstances, such as media, events or crypto related laws.