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Kore (KORE)

Correlation

0.46

Influence

21.16%

Bitcoin and Kore Correlation

Does Kore depend on Bitcoin? According to the correlation analysis, BTC and KORE have a strong positive relationship. The correlation coefficient of their values is 0.46, which was measured based on the previous 100-days' price fluctuations of both assets.

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 points that the prices of the coins are going in the reversed trend while the positive coefficient tells that the prices are moving in the same direction. For example, if Bitcoin and Kore connection is positively strong, it means that when BTC is growing KORE will grow as well. The negative strong relation will show that when BTC is rising KORE value will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Kore. If we take all the factors affecting the price of KORE as 100%, then the share of BTC price among these factors will be 21.16%. The other part which is 78.84% covers all the other aspects, such as news, technological releases or politics.