IvugeoEvolutionCoin (IEC)





Bitcoin and IvugeoEvolutionCoin Correlation

Does IvugeoEvolutionCoin depend on Bitcoin? Based on the correlation analysis, BTC and IEC have no relationship. The correlation coefficient of their prices is 0.00, which was calculated based on the last 100-days' price dynamics of both currencies.

This coefficient may range 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 currencies are moving in the contrary direction while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and IvugeoEvolutionCoin connection is positively strong, it means that when BTC is growing IEC will rise as well. The negative strong relation will indicate that when BTC is growing IEC value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over IvugeoEvolutionCoin. If we take all the things affecting the price of IEC as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other things, such as news, events or regulations.