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Eximchain (EXC)

Correlation

0.76

Influence

57.76%

Bitcoin and Eximchain Correlation

Does Eximchain depend on Bitcoin? According to the correlation analysis, BTC and EXC have a very strong positive relationship. The correlation coefficient of their prices is 0.76, which was computed based on the previous 100-days' price movements of both assets.

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 indicates that the prices of the assets are going in the opposite trend while the positive coefficient means that the prices are going in the same direction. For example, if Bitcoin and Eximchain connection is positively strong, it means that when BTC is rising EXC will rise as well. The negative strong relation will indicate that when BTC is growing EXC value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Eximchain. If we take all the factors affecting the price of EXC as 100%, then the share of BTC price among these factors will be 57.76%. The other part which is 42.24% covers all the other factors, such as news, technological releases or regulations.