Does Revenu depend on Bitcoin? According to the correlation analysis, BTC and REV have no or negligible relationship. The correlation coefficient of their prices is -0.08, which was computed based on the previous 100-days' price fluctuations of both currencies.
This coefficient may vary 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 shows that the prices of the assets are going in the reversed direction while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and Revenu connection is positively strong, it means that when BTC is rising REV will grow as well. The negative strong relation will point that when BTC is rising REV price will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Revenu. If we take all the things affecting the price of REV as 100%, then the share of BTC price among these factors will be 0.64%. The other part which is 99.36% covers all the other things, such as media, technological releases or regulations.