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Volt (ACDC)

Correlation

0.08

Influence

0.64%

Bitcoin and Volt Correlation

Does Volt depend on Bitcoin? Based on the correlation analysis, BTC and ACDC have no or negligible relationship. The correlation coefficient of their prices is 0.08, which was calculated based on the previous 100-days' price movements of both currencies.

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 indicates that the prices of the currencies are going in the opposite direction while the positive coefficient indicates that the prices are moving in the identical trend. For instance, if Bitcoin and Volt connection is positively strong, it means that when BTC is growing ACDC will grow as well. The negative strong relation will tell that when BTC is growing ACDC price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Volt. If we take all the things affecting the price of ACDC 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 factors, such as media, technological releases or politics.