Revain (R)





Bitcoin and Revain Correlation

Does Revain depend on Bitcoin? According to the correlation analysis, BTC and R have a very strong positive relationship. The correlation coefficient of their values is 0.76, which was computed based on the last 100-days' price fluctuations of both currencies.

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 tells that the prices of the assets are moving in the reversed direction while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and Revain connection is positively strong, it means that when BTC is growing R will grow as well. The negative strong relation will point that when BTC is growing R value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Revain. If we take all the factors affecting the price of R as 100%, then the share of BTC price among these factors will be 57.76%. The other part which is 42.24% covers all the other circumstances, such as news, events or crypto related laws.