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AppCoins (APPC)

Correlation

0.40

Influence

16.00%

Bitcoin and AppCoins Correlation

Does AppCoins depend on Bitcoin? According to the correlation analysis, BTC and APPC have a strong positive relationship. The correlation coefficient of their prices is 0.40, which was calculated based on the previous 100-days' price movements of both currencies.

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 means that the prices of the currencies are going in the opposite direction while the positive coefficient means that the prices are moving in the same trend. For instance, if Bitcoin and AppCoins connection is positively strong, it means that when BTC is rising APPC will grow as well. The negative strong relation will tell that when BTC is growing APPC value will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over AppCoins. If we take all the factors affecting the price of APPC as 100%, then the share of BTC price among these factors will be 16.00%. The other part which is 84.00% covers all the other things, such as media, events or politics.