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AdCoin (ACC)

Correlation

0.91

Influence

82.81%

Bitcoin and AdCoin Correlation

Does AdCoin depend on Bitcoin? According to the correlation analysis, BTC and ACC have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was computed based on the previous 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 shows that the prices of the assets are going in the opposite trend while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and AdCoin connection is positively strong, it means that when BTC is rising ACC will grow as well. The negative strong relation will show that when BTC is rising ACC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over AdCoin. If we take all the factors affecting the price of ACC 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 news, technological releases or politics.