⟷  

Libra Credit (LBA)

Correlation

0.76

Influence

57.76%

Bitcoin and Libra Credit Correlation

Does Libra Credit depend on Bitcoin? Based on the correlation analysis, BTC and LBA have a very strong positive relationship. The correlation coefficient of their prices is 0.76, which was computed based on the previous 100-days' price fluctuations of both coins.

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 means that the prices of the assets are going in the reversed direction while the positive coefficient points that the prices are going in the identical trend. For example, if Bitcoin and Libra Credit connection is positively strong, it means that when BTC is rising LBA will rise as well. The negative strong relation will show that when BTC is rising LBA price will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Libra Credit. If we take all the things affecting the price of LBA as 100%, then the share of BTC price among these factors will be 57.76%. The other part which is 42.24% covers all the other factors, such as news, technological releases or regulations.