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Quantum Resistant Ledger (QRL)

Correlation

0.74

Influence

54.76%

Bitcoin and Quantum Resistant Ledger Correlation

Does Quantum Resistant Ledger depend on Bitcoin? Based on the correlation analysis, BTC and QRL have a very strong positive relationship. The correlation coefficient of their prices is 0.74, which was measured based on the previous 100-days' price dynamics of both assets.

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 indicates that the prices of the coins are going in the contrary trend while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and Quantum Resistant Ledger connection is positively strong, it means that when BTC is rising QRL will grow as well. The negative strong relation will tell that when BTC is growing QRL value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Quantum Resistant Ledger. If we take all the factors affecting the price of QRL as 100%, then the share of BTC price among these factors will be 54.76%. The other part which is 45.24% covers all the other factors, such as news, technological releases or regulations.