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Mind Gene (MG)

Correlation

0.91

Influence

82.81%

Bitcoin and Mind Gene Correlation

Does Mind Gene depend on Bitcoin? Based on the correlation analysis, BTC and MG 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 cryptocurrencies.

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 tells that the prices of the assets are moving in the opposite trend while the positive coefficient shows that the prices are moving in the same direction. For instance, if Bitcoin and Mind Gene connection is positively strong, it means that when BTC is growing MG will grow as well. The negative strong relation will tell that when BTC is growing MG value will be in opposite lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Mind Gene. If we take all the factors affecting the price of MG 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 things, such as news, technological releases or crypto related laws.