Bitcoin and CETUS Coin Correlation

Does CETUS Coin depend on Bitcoin? Based on the correlation analysis, BTC and CETI have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was calculated based on the last 100-days' price movements of both coins.

This coefficient may adjust 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 points that the prices of the currencies are moving in the opposite direction while the positive coefficient shows that the prices are moving in the identical direction. For instance, if Bitcoin and CETUS Coin connection is positively strong, it means that when BTC is rising CETI will grow as well. The negative strong relation will tell that when BTC is rising CETI value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over CETUS Coin. If we take all the aspects affecting the price of CETI as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other aspects, such as news, events or politics.