Does Invacio depend on Bitcoin? According to the correlation analysis, BTC and INV* have a very strong negative relationship. The correlation coefficient of their values is -0.74, which was computed based on the last 100-days' price movements of both coins.
This coefficient may vary 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 assets are moving in the opposite direction while the positive coefficient shows that the prices are going in the identical direction. For example, if Bitcoin and Invacio connection is positively strong, it means that when BTC is rising INV* will grow as well. The negative strong relation will show that when BTC is rising INV* price will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Invacio. If we take all the circumstances affecting the price of INV* as 100%, then the share of BTC price among these factors will be 54.76%. The other part which is 45.24% covers all the other things, such as news, technological releases or crypto related laws.