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LiviaCoin (LIV)

Correlation

-0.16

Influence

2.56%

Bitcoin and LiviaCoin Correlation

Does LiviaCoin depend on Bitcoin? According to the correlation analysis, BTC and LIV have no or negligible relationship. The correlation coefficient of their values is -0.16, which was computed 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 tells that the prices of the assets 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 LiviaCoin connection is positively strong, it means that when BTC is rising LIV will grow as well. The negative strong relation will show that when BTC is rising LIV value will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over LiviaCoin. If we take all the factors affecting the price of LIV as 100%, then the share of BTC price among these factors will be 2.56%. The other part which is 97.44% covers all the other circumstances, such as media, events or regulations.