NetM (NTM)





Bitcoin and NetM Correlation

Does NetM depend on Bitcoin? According to the correlation analysis, BTC and NTM have no relationship. The correlation coefficient of their prices is 0.00, which was computed based on the previous 100-days' price fluctuations of both currencies.

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 means that the prices of the assets are going in the reversed direction while the positive coefficient indicates that the prices are moving in the identical direction. For instance, if Bitcoin and NetM connection is positively strong, it means that when BTC is rising NTM will rise as well. The negative strong relation will show that when BTC is rising NTM value will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over NetM. If we take all the aspects affecting the price of NTM as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other aspects, such as news, events or crypto related laws.