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Recycling Regeneration Chain (RRC)

Correlation

-0.09

Influence

0.81%

Bitcoin and Recycling Regeneration Chain Correlation

Does Recycling Regeneration Chain depend on Bitcoin? Based on the correlation analysis, BTC and RRC have no or negligible relationship. The correlation coefficient of their values is -0.09, which was computed 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 points that the prices of the assets are going in the contrary trend while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and Recycling Regeneration Chain connection is positively strong, it means that when BTC is rising RRC will grow as well. The negative strong relation will tell that when BTC is growing RRC value will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Recycling Regeneration Chain. If we take all the aspects affecting the price of RRC as 100%, then the share of BTC price among these factors will be 0.81%. The other part which is 99.19% covers all the other things, such as news, events or crypto related laws.