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Asia Coin (AC)

Correlation

0.90

Influence

81.00%

Bitcoin and Asia Coin Correlation

Does Asia Coin depend on Bitcoin? Based on the correlation analysis, BTC and AC have a very strong positive relationship. The correlation coefficient of their values is 0.90, which was computed based on the previous 100-days' price movements of both cryptocurrencies.

This coefficient may adjust 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 assets are going in the opposite trend while the positive coefficient means that the prices are going in the identical direction. For example, if Bitcoin and Asia Coin connection is positively strong, it means that when BTC is growing AC will grow as well. The negative strong relation will point that when BTC is growing AC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Asia Coin. If we take all the things affecting the price of AC as 100%, then the share of BTC price among these factors will be 81.00%. The other part which is 19.00% covers all the other aspects, such as news, events or regulations.