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Xaurum (XAUR)

Correlation

-0.08

Influence

0.64%

Bitcoin and Xaurum Correlation

Does Xaurum depend on Bitcoin? According to the correlation analysis, BTC and XAUR have no or negligible relationship. The correlation coefficient of their values is -0.08, which was calculated based on the last 100-days' price movements 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 indicates that the prices of the currencies are moving in the opposite trend while the positive coefficient indicates that the prices are going in the same direction. For example, if Bitcoin and Xaurum connection is positively strong, it means that when BTC is growing XAUR will grow as well. The negative strong relation will tell that when BTC is rising XAUR price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Xaurum. If we take all the circumstances affecting the price of XAUR 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 aspects, such as media, technological releases or crypto related laws.