PlusOneCoin (PLUS1)





Bitcoin and PlusOneCoin Correlation

Does PlusOneCoin depend on Bitcoin? According to the correlation analysis, BTC and PLUS1 have no or negligible relationship. The correlation coefficient of their prices is -0.13, which was computed based on the last 100-days' price dynamics 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 means that the prices of the assets are moving in the contrary trend while the positive coefficient indicates that the prices are moving in the identical trend. For instance, if Bitcoin and PlusOneCoin connection is positively strong, it means that when BTC is rising PLUS1 will grow as well. The negative strong relation will indicate that when BTC is rising PLUS1 price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over PlusOneCoin. If we take all the things affecting the price of PLUS1 as 100%, then the share of BTC price among these factors will be 1.69%. The other part which is 98.31% covers all the other circumstances, such as media, technological releases or politics.