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Cream (CRM)

Correlation

0.47

Influence

22.09%

Bitcoin and Cream Correlation

Does Cream depend on Bitcoin? Based on the correlation analysis, BTC and CRM have a strong positive relationship. The correlation coefficient of their values is 0.47, which was estimated 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 points that the prices of the cryptocurrencies are going in the reversed trend while the positive coefficient tells that the prices are moving in the same trend. For example, if Bitcoin and Cream connection is positively strong, it means that when BTC is growing CRM will grow as well. The negative strong relation will tell that when BTC is rising CRM price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Cream. If we take all the things affecting the price of CRM as 100%, then the share of BTC price among these factors will be 22.09%. The other part which is 77.91% covers all the other factors, such as media, events or politics.