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Creva Coin (CREVA)

Correlation

0.77

Influence

59.29%

Bitcoin and Creva Coin Correlation

Does Creva Coin depend on Bitcoin? According to the correlation analysis, BTC and CREVA have a very strong positive relationship. The correlation coefficient of their prices is 0.77, which was estimated based on the previous 100-days' price dynamics of both assets.

This coefficient may vary 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 shows that the prices of the cryptocurrencies are going in the contrary trend while the positive coefficient shows that the prices are moving in the same trend. For example, if Bitcoin and Creva Coin connection is positively strong, it means that when BTC is rising CREVA will rise as well. The negative strong relation will point that when BTC is growing CREVA price will be in contrary lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Creva Coin. If we take all the factors affecting the price of CREVA as 100%, then the share of BTC price among these factors will be 59.29%. The other part which is 40.71% covers all the other factors, such as news, events or politics.