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BrainCoin (BRAIN)

Correlation

0.61

Influence

37.21%

Bitcoin and BrainCoin Correlation

Does BrainCoin depend on Bitcoin? According to the correlation analysis, BTC and BRAIN have a strong positive relationship. The correlation coefficient of their prices is 0.61, which was calculated based on the last 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 means that the prices of the currencies are moving in the reversed trend while the positive coefficient tells that the prices are moving in the same direction. For instance, if Bitcoin and BrainCoin connection is positively strong, it means that when BTC is growing BRAIN will grow as well. The negative strong relation will indicate that when BTC is growing BRAIN price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over BrainCoin. If we take all the things affecting the price of BRAIN 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 circumstances, such as media, technological releases or politics.