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Crypto Market Ads (CMA)

Correlation

0.23

Influence

5.29%

Bitcoin and Crypto Market Ads Correlation

Does Crypto Market Ads depend on Bitcoin? Based on the correlation analysis, BTC and CMA have a weak positive relationship. The correlation coefficient of their prices is 0.23, which was computed based on the previous 100-days' price dynamics of both assets.

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 shows that the prices of the assets are going in the contrary trend while the positive coefficient indicates that the prices are moving in the identical trend. For instance, if Bitcoin and Crypto Market Ads connection is positively strong, it means that when BTC is rising CMA will rise as well. The negative strong relation will indicate that when BTC is growing CMA value will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Crypto Market Ads. If we take all the circumstances affecting the price of CMA as 100%, then the share of BTC price among these factors will be 5.29%. The other part which is 94.71% covers all the other things, such as media, technological releases or politics.