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Render Payment (RPM)

Correlation

0.92

Influence

84.64%

Bitcoin and Render Payment Correlation

Does Render Payment depend on Bitcoin? According to the correlation analysis, BTC and RPM have a very strong positive relationship. The correlation coefficient of their values is 0.92, which was estimated based on the previous 100-days' price dynamics of both cryptocurrencies.

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 points that the prices of the cryptocurrencies are going in the contrary trend while the positive coefficient indicates that the prices are moving in the same trend. For example, if Bitcoin and Render Payment connection is positively strong, it means that when BTC is rising RPM will grow as well. The negative strong relation will tell that when BTC is growing RPM value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Render Payment. If we take all the circumstances affecting the price of RPM as 100%, then the share of BTC price among these factors will be 84.64%. The other part which is 15.36% covers all the other factors, such as news, events or politics.