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ACT (ACT)

Correlation

0.44

Influence

19.36%

Bitcoin and ACT Correlation

Does ACT depend on Bitcoin? Based on the correlation analysis, BTC and ACT have a strong positive relationship. The correlation coefficient of their values is 0.44, which was measured based on the previous 100-days' price fluctuations of both currencies.

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 indicates that the prices of the coins are going in the reversed direction while the positive coefficient tells that the prices are moving in the identical direction. For example, if Bitcoin and ACT connection is positively strong, it means that when BTC is rising ACT will rise as well. The negative strong relation will tell that when BTC is rising ACT price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over ACT. If we take all the aspects affecting the price of ACT as 100%, then the share of BTC price among these factors will be 19.36%. The other part which is 80.64% covers all the other things, such as media, technological releases or regulations.