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Breakout Stake (BRX)

Correlation

0.49

Influence

24.01%

Bitcoin and Breakout Stake Correlation

Does Breakout Stake depend on Bitcoin? According to the correlation analysis, BTC and BRX have a strong positive relationship. The correlation coefficient of their prices is 0.49, which was estimated based on the last 100-days' price movements of both coins.

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 cryptocurrencies are moving in the opposite direction while the positive coefficient points that the prices are going in the same trend. For example, if Bitcoin and Breakout Stake connection is positively strong, it means that when BTC is rising BRX will grow as well. The negative strong relation will point that when BTC is growing BRX value will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Breakout Stake. If we take all the factors affecting the price of BRX as 100%, then the share of BTC price among these factors will be 24.01%. The other part which is 75.99% covers all the other circumstances, such as media, events or politics.