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Catex (CATT)

Correlation

0.06

Influence

0.36%

Bitcoin and Catex Correlation

Does Catex depend on Bitcoin? Based on the correlation analysis, BTC and CATT have no or negligible relationship. The correlation coefficient of their prices is 0.06, which was computed based on the last 100-days' price fluctuations of both assets.

This coefficient may range 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 moving in the reversed trend while the positive coefficient shows that the prices are going in the identical trend. For instance, if Bitcoin and Catex connection is positively strong, it means that when BTC is rising CATT will grow as well. The negative strong relation will show that when BTC is rising CATT price will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Catex. If we take all the circumstances affecting the price of CATT as 100%, then the share of BTC price among these factors will be 0.36%. The other part which is 99.64% covers all the other things, such as news, events or regulations.