Does Adelphoi depend on Bitcoin? Based on the correlation analysis, BTC and ADL have a strong positive relationship. The correlation coefficient of their prices is 0.64, which was calculated based on the previous 100-days' price fluctuations of both currencies.
This coefficient may adjust 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 reversed direction while the positive coefficient shows that the prices are moving in the identical trend. For instance, if Bitcoin and Adelphoi connection is positively strong, it means that when BTC is rising ADL will rise as well. The negative strong relation will tell that when BTC is growing ADL value will be in opposite decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Adelphoi. If we take all the factors affecting the price of ADL as 100%, then the share of BTC price among these factors will be 40.96%. The other part which is 59.04% covers all the other aspects, such as news, events or crypto related laws.