Does Curium depend on Bitcoin? Based on the correlation analysis, BTC and CRU have a strong negative relationship. The correlation coefficient of their prices is -0.58, which was estimated based on the previous 100-days' price movements of both cryptocurrencies.
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 means that the prices of the cryptocurrencies are going in the opposite trend while the positive coefficient means that the prices are moving in the same trend. For example, if Bitcoin and Curium connection is positively strong, it means that when BTC is rising CRU will grow as well. The negative strong relation will tell that when BTC is growing CRU value will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Curium. If we take all the things affecting the price of CRU as 100%, then the share of BTC price among these factors will be 33.64%. The other part which is 66.36% covers all the other things, such as news, technological releases or crypto related laws.