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Amo Coin (AMO)

Correlation

0.61

Influence

37.21%

Bitcoin and Amo Coin Correlation

Does Amo Coin depend on Bitcoin? According to the correlation analysis, BTC and AMO have a strong positive relationship. The correlation coefficient of their values is 0.61, which was computed based on the last 100-days' price movements of both assets.

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 points that the prices of the assets are moving in the opposite trend while the positive coefficient indicates that the prices are moving in the identical trend. For example, if Bitcoin and Amo Coin connection is positively strong, it means that when BTC is rising AMO will rise as well. The negative strong relation will indicate that when BTC is growing AMO value will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Amo Coin. If we take all the circumstances affecting the price of AMO as 100%, then the share of BTC price among these factors will be 37.21%. The other part which is 62.79% covers all the other factors, such as media, events or politics.