Centrality Token (CENNZ)





Bitcoin and Centrality Token Correlation

Does Centrality Token depend on Bitcoin? Based on the correlation analysis, BTC and CENNZ have no or negligible relationship. The correlation coefficient of their values is -0.14, which was calculated based on the previous 100-days' price dynamics of both coins.

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 tells that the prices of the currencies are going in the contrary direction while the positive coefficient tells that the prices are moving in the identical trend. For instance, if Bitcoin and Centrality Token connection is positively strong, it means that when BTC is growing CENNZ will rise as well. The negative strong relation will indicate that when BTC is growing CENNZ value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Centrality Token. If we take all the factors affecting the price of CENNZ as 100%, then the share of BTC price among these factors will be 1.96%. The other part which is 98.04% covers all the other factors, such as news, events or regulations.