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World Trade Funds (XWT)

Correlation

0.91

Influence

82.81%

Bitcoin and World Trade Funds Correlation

Does World Trade Funds depend on Bitcoin? According to the correlation analysis, BTC and XWT have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the previous 100-days' price movements of both cryptocurrencies.

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 shows that the prices of the currencies are going in the opposite trend while the positive coefficient tells that the prices are moving in the same direction. For example, if Bitcoin and World Trade Funds connection is positively strong, it means that when BTC is rising XWT will grow as well. The negative strong relation will indicate that when BTC is growing XWT value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over World Trade Funds. If we take all the things affecting the price of XWT 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 things, such as media, technological releases or regulations.