Nautilus Coin (NAUT)





Bitcoin and Nautilus Coin Correlation

Does Nautilus Coin depend on Bitcoin? According to the correlation analysis, BTC and NAUT have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the previous 100-days' price movements of both currencies.

This coefficient may vary 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 indicates that the prices of the coins are going in the opposite direction while the positive coefficient shows that the prices are going in the identical direction. For instance, if Bitcoin and Nautilus Coin connection is positively strong, it means that when BTC is growing NAUT will grow as well. The negative strong relation will tell that when BTC is growing NAUT value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Nautilus Coin. If we take all the circumstances affecting the price of NAUT 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 aspects, such as news, events or regulations.