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PokeChain (XPOKE)

Correlation

0.91

Influence

82.81%

Bitcoin and PokeChain Correlation

Does PokeChain depend on Bitcoin? Based on the correlation analysis, BTC and XPOKE have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price fluctuations of both currencies.

This coefficient may range 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 direction while the positive coefficient means that the prices are going in the identical trend. For instance, if Bitcoin and PokeChain connection is positively strong, it means that when BTC is growing XPOKE will rise as well. The negative strong relation will tell that when BTC is rising XPOKE value will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over PokeChain. If we take all the circumstances affecting the price of XPOKE 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 crypto related laws.