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BigUp (BIGUP)

Correlation

0.91

Influence

82.81%

Bitcoin and BigUp Correlation

Does BigUp depend on Bitcoin? According to the correlation analysis, BTC and BIGUP have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the last 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 means that the prices of the coins are moving in the reversed direction while the positive coefficient points that the prices are going in the identical trend. For example, if Bitcoin and BigUp connection is positively strong, it means that when BTC is rising BIGUP will rise as well. The negative strong relation will tell that when BTC is growing BIGUP price will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over BigUp. If we take all the factors affecting the price of BIGUP 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 circumstances, such as news, technological releases or regulations.