⟷  

JIO Token (JIO)

Correlation

0.91

Influence

82.81%

Bitcoin and JIO Token Correlation

Does JIO Token depend on Bitcoin? According to the correlation analysis, BTC and JIO have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the previous 100-days' price fluctuations 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 shows that the prices of the coins are going in the reversed direction while the positive coefficient means that the prices are moving in the identical direction. For example, if Bitcoin and JIO Token connection is positively strong, it means that when BTC is rising JIO will rise as well. The negative strong relation will point that when BTC is rising JIO value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over JIO Token. If we take all the factors affecting the price of JIO as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other circumstances, such as media, events or crypto related laws.