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Bitcoinus (BTCUS)

Correlation

-0.04

Influence

0.16%

Bitcoin and Bitcoinus Correlation

Does Bitcoinus depend on Bitcoin? According to the correlation analysis, BTC and BTCUS have no or negligible relationship. The correlation coefficient of their prices is -0.04, which was calculated based on the previous 100-days' price fluctuations 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 indicates that the prices of the currencies are going in the reversed trend while the positive coefficient points that the prices are moving in the same trend. For example, if Bitcoin and Bitcoinus connection is positively strong, it means that when BTC is growing BTCUS will grow as well. The negative strong relation will show that when BTC is rising BTCUS price will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Bitcoinus. If we take all the things affecting the price of BTCUS as 100%, then the share of BTC price among these factors will be 0.16%. The other part which is 99.84% covers all the other factors, such as news, technological releases or regulations.