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Xios (XIOS)

Correlation

0.91

Influence

82.81%

Bitcoin and Xios Correlation

Does Xios depend on Bitcoin? Based on the correlation analysis, BTC and XIOS have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the last 100-days' price fluctuations of both cryptocurrencies.

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 shows that the prices of the currencies are moving in the reversed trend while the positive coefficient indicates that the prices are moving in the same trend. For example, if Bitcoin and Xios connection is positively strong, it means that when BTC is rising XIOS will grow as well. The negative strong relation will show that when BTC is growing XIOS value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Xios. If we take all the aspects affecting the price of XIOS 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, events or politics.