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VisionX (VNX)

Correlation

-0.11

Influence

1.21%

Bitcoin and VisionX Correlation

Does VisionX depend on Bitcoin? According to the correlation analysis, BTC and VNX have no or negligible relationship. The correlation coefficient of their prices is -0.11, which was estimated based on the previous 100-days' price fluctuations of both cryptocurrencies.

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 cryptocurrencies are going in the reversed trend while the positive coefficient shows that the prices are moving in the identical trend. For example, if Bitcoin and VisionX connection is positively strong, it means that when BTC is rising VNX will grow as well. The negative strong relation will indicate that when BTC is growing VNX value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over VisionX. If we take all the things affecting the price of VNX as 100%, then the share of BTC price among these factors will be 1.21%. The other part which is 98.79% covers all the other things, such as news, events or politics.