Odyssey (OCN)





Bitcoin and Odyssey Correlation

Does Odyssey depend on Bitcoin? Based on the correlation analysis, BTC and OCN have a very strong positive relationship. The correlation coefficient of their values is 0.73, which was computed based on the last 100-days' price fluctuations of both assets.

This coefficient may adjust 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 trend. For instance, if Bitcoin and Odyssey connection is positively strong, it means that when BTC is rising OCN will rise as well. The negative strong relation will point that when BTC is rising OCN value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Odyssey. If we take all the factors affecting the price of OCN as 100%, then the share of BTC price among these factors will be 53.29%. The other part which is 46.71% covers all the other things, such as media, events or regulations.