Does Nucleus Vision depend on Bitcoin? According to the correlation analysis, BTC and NCASH have a very strong positive relationship. The correlation coefficient of their values is 0.70, which was calculated 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 tells that the prices of the currencies are going in the opposite direction while the positive coefficient tells that the prices are going in the same trend. For example, if Bitcoin and Nucleus Vision connection is positively strong, it means that when BTC is rising NCASH will rise as well. The negative strong relation will show that when BTC is rising NCASH value will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Nucleus Vision. If we take all the circumstances affecting the price of NCASH as 100%, then the share of BTC price among these factors will be 49.00%. The other part which is 51.00% covers all the other aspects, such as media, events or regulations.