Does Aion depend on Bitcoin? Based on the correlation analysis, BTC and AION have a strong positive relationship. The correlation coefficient of their prices is 0.47, which was calculated based on the last 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 moving in the reversed direction while the positive coefficient points that the prices are moving in the same direction. For example, if Bitcoin and Aion connection is positively strong, it means that when BTC is rising AION will grow as well. The negative strong relation will tell that when BTC is rising AION value will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Aion. If we take all the factors affecting the price of AION as 100%, then the share of BTC price among these factors will be 22.09%. The other part which is 77.91% covers all the other aspects, such as media, events or politics.