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Cube (AUTO)

Correlation

0.73

Influence

53.29%

Bitcoin and Cube Correlation

Does Cube depend on Bitcoin? Based on the correlation analysis, BTC and AUTO have a very strong positive relationship. The correlation coefficient of their values is 0.73, which was calculated based on the last 100-days' price movements of both assets.

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 currencies are moving in the opposite trend while the positive coefficient shows that the prices are going in the same trend. For example, if Bitcoin and Cube connection is positively strong, it means that when BTC is growing AUTO will grow as well. The negative strong relation will indicate that when BTC is rising AUTO price will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Cube. If we take all the aspects affecting the price of AUTO as 100%, then the share of BTC price among these factors will be 53.29%. The other part which is 46.71% covers all the other aspects, such as media, events or politics.