Everus (EVR)





Bitcoin and Everus Correlation

Does Everus depend on Bitcoin? According to the correlation analysis, BTC and EVR have a very strong positive relationship. The correlation coefficient of their prices is 0.92, which was computed based on the last 100-days' price dynamics of both cryptocurrencies.

This coefficient may change 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 assets are moving in the contrary trend while the positive coefficient means that the prices are going in the identical direction. For example, if Bitcoin and Everus connection is positively strong, it means that when BTC is rising EVR will grow as well. The negative strong relation will show that when BTC is rising EVR price will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Everus. If we take all the aspects affecting the price of EVR as 100%, then the share of BTC price among these factors will be 84.64%. The other part which is 15.36% covers all the other aspects, such as media, events or crypto related laws.