Leverj (LEV)





Bitcoin and Leverj Correlation

Does Leverj depend on Bitcoin? According to the correlation analysis, BTC and LEV have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the last 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 points that the prices of the coins are moving in the contrary trend while the positive coefficient means that the prices are going in the same direction. For example, if Bitcoin and Leverj connection is positively strong, it means that when BTC is rising LEV will rise as well. The negative strong relation will point that when BTC is rising LEV price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Leverj. If we take all the circumstances affecting the price of LEV 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 news, events or crypto related laws.