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JumBucks Coin (JBS)

Correlation

0.91

Influence

82.81%

Bitcoin and JumBucks Coin Correlation

Does JumBucks Coin depend on Bitcoin? Based on the correlation analysis, BTC and JBS have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the previous 100-days' price fluctuations of both cryptocurrencies.

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 tells that the prices of the assets are going in the reversed trend while the positive coefficient means that the prices are going in the same direction. For instance, if Bitcoin and JumBucks Coin connection is positively strong, it means that when BTC is rising JBS will grow as well. The negative strong relation will indicate that when BTC is growing JBS value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over JumBucks Coin. If we take all the factors affecting the price of JBS 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 aspects, such as media, events or regulations.