EXRNchain (EXRN)





Bitcoin and EXRNchain Correlation

Does EXRNchain depend on Bitcoin? Based on the correlation analysis, BTC and EXRN have a very strong positive relationship. The correlation coefficient of their prices is 0.72, which was estimated based on the last 100-days' price movements of both coins.

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 means that the prices of the cryptocurrencies are moving in the opposite direction while the positive coefficient points that the prices are moving in the same direction. For instance, if Bitcoin and EXRNchain connection is positively strong, it means that when BTC is rising EXRN will rise as well. The negative strong relation will indicate that when BTC is growing EXRN price will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over EXRNchain. If we take all the aspects affecting the price of EXRN as 100%, then the share of BTC price among these factors will be 51.84%. The other part which is 48.16% covers all the other aspects, such as news, technological releases or crypto related laws.