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Aegis (AGS)

Correlation

0.91

Influence

82.81%

Bitcoin and Aegis Correlation

Does Aegis depend on Bitcoin? Based on the correlation analysis, BTC and AGS have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the last 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 tells that the prices of the cryptocurrencies are moving in the reversed direction while the positive coefficient shows that the prices are going in the same direction. For instance, if Bitcoin and Aegis connection is positively strong, it means that when BTC is growing AGS will rise as well. The negative strong relation will point that when BTC is growing AGS value will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Aegis. If we take all the aspects affecting the price of AGS 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 aspects, such as news, technological releases or regulations.