Does Akroma depend on Bitcoin? According to the correlation analysis, BTC and AKA have a strong positive relationship. The correlation coefficient of their values is 0.67, which was calculated based on the last 100-days' price fluctuations of both assets.
This coefficient may change 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 points that the prices of the currencies are moving in the reversed trend while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and Akroma connection is positively strong, it means that when BTC is growing AKA will rise as well. The negative strong relation will indicate that when BTC is growing AKA price will be in opposite lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Akroma. If we take all the circumstances affecting the price of AKA as 100%, then the share of BTC price among these factors will be 44.89%. The other part which is 55.11% covers all the other aspects, such as news, technological releases or crypto related laws.