Bitcoin and MEDX TOKEN Correlation

Does MEDX TOKEN depend on Bitcoin? According to the correlation analysis, BTC and MEDX have a very strong positive relationship. The correlation coefficient of their values is 0.75, which was computed based on the previous 100-days' price movements of both coins.

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 going in the opposite direction while the positive coefficient shows that the prices are moving in the same trend. For instance, if Bitcoin and MEDX TOKEN connection is positively strong, it means that when BTC is growing MEDX will grow as well. The negative strong relation will tell that when BTC is rising MEDX price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over MEDX TOKEN. If we take all the things affecting the price of MEDX as 100%, then the share of BTC price among these factors will be 56.25%. The other part which is 43.75% covers all the other aspects, such as news, technological releases or regulations.