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UR (UR)

Correlation

0.91

Influence

82.81%

Bitcoin and UR Correlation

Does UR depend on Bitcoin? Based on the correlation analysis, BTC and UR have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the previous 100-days' price fluctuations of both coins.

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 tells that the prices of the coins are going in the reversed direction while the positive coefficient points that the prices are moving in the same direction. For example, if Bitcoin and UR connection is positively strong, it means that when BTC is growing UR will grow as well. The negative strong relation will show that when BTC is rising UR price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over UR. If we take all the factors affecting the price of UR as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other circumstances, such as news, technological releases or regulations.