Does Creatio depend on Bitcoin? Based on the correlation analysis, BTC and XCRE have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price fluctuations of both currencies.
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 points that the prices of the assets are moving in the reversed direction while the positive coefficient points that the prices are going in the same direction. For instance, if Bitcoin and Creatio connection is positively strong, it means that when BTC is growing XCRE will grow as well. The negative strong relation will point that when BTC is rising XCRE price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Creatio. If we take all the factors affecting the price of XCRE 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 things, such as news, technological releases or regulations.