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MobileBridge Momentum (CHF)

Correlation

0.29

Influence

8.41%

Bitcoin and MobileBridge Momentum Correlation

Does MobileBridge Momentum depend on Bitcoin? According to the correlation analysis, BTC and CHF have a weak positive relationship. The correlation coefficient of their prices is 0.29, which was computed based on the previous 100-days' price fluctuations of both cryptocurrencies.

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 shows that the prices of the assets are going in the reversed trend while the positive coefficient tells that the prices are going in the same trend. For example, if Bitcoin and MobileBridge Momentum connection is positively strong, it means that when BTC is rising CHF will grow as well. The negative strong relation will tell that when BTC is rising CHF price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over MobileBridge Momentum. If we take all the factors affecting the price of CHF as 100%, then the share of BTC price among these factors will be 8.41%. The other part which is 91.59% covers all the other circumstances, such as news, technological releases or politics.