Asiadigicoin (ADCN)





Bitcoin and Asiadigicoin Correlation

Does Asiadigicoin depend on Bitcoin? Based on the correlation analysis, BTC and ADCN have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was computed based on the previous 100-days' price movements 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 means that the prices of the assets are going in the opposite direction while the positive coefficient points that the prices are moving in the identical direction. For example, if Bitcoin and Asiadigicoin connection is positively strong, it means that when BTC is growing ADCN will grow as well. The negative strong relation will indicate that when BTC is rising ADCN value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Asiadigicoin. If we take all the things affecting the price of ADCN as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other circumstances, such as media, technological releases or regulations.