⟷  

Gese (GSE)

Correlation

-0.37

Influence

13.69%

Bitcoin and Gese Correlation

Does Gese depend on Bitcoin? Based on the correlation analysis, BTC and GSE have a moderate negative relationship. The correlation coefficient of their prices is -0.37, which was measured based on the previous 100-days' price movements of both assets.

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 shows that the prices of the coins are going in the opposite trend while the positive coefficient means that the prices are moving in the identical trend. For example, if Bitcoin and Gese connection is positively strong, it means that when BTC is growing GSE will rise as well. The negative strong relation will tell that when BTC is growing GSE value will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Gese. If we take all the circumstances affecting the price of GSE as 100%, then the share of BTC price among these factors will be 13.69%. The other part which is 86.31% covers all the other aspects, such as news, events or politics.