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Mont Blanc (MBLC)

Correlation

0.07

Influence

0.49%

Bitcoin and Mont Blanc Correlation

Does Mont Blanc depend on Bitcoin? According to the correlation analysis, BTC and MBLC have no or negligible relationship. The correlation coefficient of their values is 0.07, which was computed based on the last 100-days' price fluctuations of both assets.

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 points that the prices of the assets are moving in the reversed trend while the positive coefficient indicates that the prices are moving in the same direction. For instance, if Bitcoin and Mont Blanc connection is positively strong, it means that when BTC is rising MBLC will grow as well. The negative strong relation will show that when BTC is growing MBLC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Mont Blanc. If we take all the aspects affecting the price of MBLC as 100%, then the share of BTC price among these factors will be 0.49%. The other part which is 99.51% covers all the other factors, such as media, events or crypto related laws.