⟷  

MaidSafe Coin (MAID)

Correlation

0.65

Influence

42.25%

Bitcoin and MaidSafe Coin Correlation

Does MaidSafe Coin depend on Bitcoin? Based on the correlation analysis, BTC and MAID have a strong positive relationship. The correlation coefficient of their prices is 0.65, which was measured based on the previous 100-days' price dynamics of both coins.

This coefficient may adjust 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 shows that the prices of the coins are going in the contrary direction while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and MaidSafe Coin connection is positively strong, it means that when BTC is growing MAID will rise as well. The negative strong relation will point that when BTC is rising MAID price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over MaidSafe Coin. If we take all the circumstances affecting the price of MAID as 100%, then the share of BTC price among these factors will be 42.25%. The other part which is 57.75% covers all the other things, such as news, technological releases or regulations.