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GreenCoin (GRE)

Correlation

0.05

Influence

0.25%

Bitcoin and GreenCoin Correlation

Does GreenCoin depend on Bitcoin? According to the correlation analysis, BTC and GRE have no or negligible relationship. The correlation coefficient of their prices is 0.05, which was measured based on the last 100-days' price movements of both coins.

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 means that the prices of the coins are moving in the opposite direction while the positive coefficient indicates that the prices are moving in the same trend. For instance, if Bitcoin and GreenCoin connection is positively strong, it means that when BTC is growing GRE will grow as well. The negative strong relation will tell that when BTC is rising GRE price will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over GreenCoin. If we take all the circumstances affecting the price of GRE as 100%, then the share of BTC price among these factors will be 0.25%. The other part which is 99.75% covers all the other things, such as news, events or politics.