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MediBond (MEDI)

Correlation

0.91

Influence

82.81%

Bitcoin and MediBond Correlation

Does MediBond depend on Bitcoin? Based on the correlation analysis, BTC and MEDI have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price movements of both assets.

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 tells that the prices of the assets are moving in the opposite trend while the positive coefficient means that the prices are moving in the same trend. For example, if Bitcoin and MediBond connection is positively strong, it means that when BTC is growing MEDI will grow as well. The negative strong relation will tell that when BTC is growing MEDI price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over MediBond. If we take all the factors affecting the price of MEDI 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 circumstances, such as media, technological releases or regulations.