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Global Jobcoin (GJC)

Correlation

-0.23

Influence

5.29%

Bitcoin and Global Jobcoin Correlation

Does Global Jobcoin depend on Bitcoin? Based on the correlation analysis, BTC and GJC have a weak negative relationship. The correlation coefficient of their values is -0.23, which was calculated 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 tells that the prices of the currencies are going in the opposite trend while the positive coefficient means that the prices are moving in the same trend. For instance, if Bitcoin and Global Jobcoin connection is positively strong, it means that when BTC is growing GJC will rise as well. The negative strong relation will point that when BTC is growing GJC price will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Global Jobcoin. If we take all the circumstances affecting the price of GJC as 100%, then the share of BTC price among these factors will be 5.29%. The other part which is 94.71% covers all the other things, such as media, events or regulations.