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KubosCoin (KUBO)

Correlation

0.68

Influence

46.24%

Bitcoin and KubosCoin Correlation

Does KubosCoin depend on Bitcoin? According to the correlation analysis, BTC and KUBO have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was computed based on the previous 100-days' price dynamics of both cryptocurrencies.

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 indicates that the prices of the assets are going in the contrary trend while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and KubosCoin connection is positively strong, it means that when BTC is growing KUBO will grow as well. The negative strong relation will tell that when BTC is rising KUBO price will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over KubosCoin. If we take all the things affecting the price of KUBO as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other factors, such as news, events or regulations.