Does AriCoin depend on Bitcoin? According to the correlation analysis, BTC and ARI have a very strong positive relationship. The correlation coefficient of their values is 0.92, which was estimated based on the previous 100-days' price fluctuations 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 points that the prices of the cryptocurrencies are going in the reversed direction while the positive coefficient points that the prices are going in the same direction. For example, if Bitcoin and AriCoin connection is positively strong, it means that when BTC is rising ARI will rise as well. The negative strong relation will point that when BTC is growing ARI price will be in opposite lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over AriCoin. If we take all the circumstances affecting the price of ARI as 100%, then the share of BTC price among these factors will be 84.64%. The other part which is 15.36% covers all the other aspects, such as media, technological releases or politics.