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Change (CAG)

Correlation

0.86

Influence

73.96%

Bitcoin and Change Correlation

Does Change depend on Bitcoin? Based on the correlation analysis, BTC and CAG have a very strong positive relationship. The correlation coefficient of their values is 0.86, which was computed based on the previous 100-days' price dynamics of both currencies.

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 assets are going in the contrary direction while the positive coefficient indicates that the prices are going in the same trend. For example, if Bitcoin and Change connection is positively strong, it means that when BTC is rising CAG will rise as well. The negative strong relation will indicate that when BTC is growing CAG price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Change. If we take all the factors affecting the price of CAG as 100%, then the share of BTC price among these factors will be 73.96%. The other part which is 26.04% covers all the other circumstances, such as news, events or regulations.