Does Aptcoin depend on Bitcoin? Based on the correlation analysis, BTC and APT have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was computed based on the previous 100-days' price dynamics of both assets.
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 means that the prices of the assets are going in the contrary trend while the positive coefficient indicates that the prices are moving in the same trend. For example, if Bitcoin and Aptcoin connection is positively strong, it means that when BTC is rising APT will rise as well. The negative strong relation will tell that when BTC is growing APT price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Aptcoin. If we take all the aspects affecting the price of APT as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other circumstances, such as news, events or regulations.