Luxmi Coin (LUX**)





Bitcoin and Luxmi Coin Correlation

Does Luxmi Coin depend on Bitcoin? Based on the correlation analysis, BTC and LUX** have no relationship. The correlation coefficient of their values is 0.00, which was computed based on the previous 100-days' price movements 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 points that the prices of the assets are going in the opposite direction while the positive coefficient shows that the prices are going in the same trend. For instance, if Bitcoin and Luxmi Coin connection is positively strong, it means that when BTC is rising LUX** will rise as well. The negative strong relation will tell that when BTC is rising LUX** value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Luxmi Coin. If we take all the circumstances affecting the price of LUX** as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other factors, such as news, technological releases or crypto related laws.