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ExaByte (EXB) (EXB)

Correlation

0.91

Influence

82.81%

Bitcoin and ExaByte (EXB) Correlation

Does ExaByte (EXB) depend on Bitcoin? Based on the correlation analysis, BTC and EXB have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the previous 100-days' price movements of both cryptocurrencies.

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 indicates that the prices of the cryptocurrencies are going in the opposite trend while the positive coefficient indicates that the prices are going in the same direction. For instance, if Bitcoin and ExaByte (EXB) connection is positively strong, it means that when BTC is rising EXB will grow as well. The negative strong relation will tell that when BTC is growing EXB price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over ExaByte (EXB). If we take all the circumstances affecting the price of EXB as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other circumstances, such as news, technological releases or regulations.