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Consumption Avatar Matrix (CAM)

Correlation

-0.61

Influence

37.21%

Bitcoin and Consumption Avatar Matrix Correlation

Does Consumption Avatar Matrix depend on Bitcoin? Based on the correlation analysis, BTC and CAM have a strong negative relationship. The correlation coefficient of their values is -0.61, which was computed based on the previous 100-days' price fluctuations of both cryptocurrencies.

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 tells that the prices of the assets are going in the reversed trend while the positive coefficient means that the prices are moving in the same trend. For instance, if Bitcoin and Consumption Avatar Matrix connection is positively strong, it means that when BTC is growing CAM will grow as well. The negative strong relation will tell that when BTC is rising CAM price will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Consumption Avatar Matrix. If we take all the things affecting the price of CAM as 100%, then the share of BTC price among these factors will be 37.21%. The other part which is 62.79% covers all the other aspects, such as news, technological releases or regulations.