Bitcoin and ATC Coin Correlation

Does ATC Coin depend on Bitcoin? Based on the correlation analysis, BTC and ATCC have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the previous 100-days' price fluctuations of both currencies.

This coefficient may range 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 assets are going in the reversed direction while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and ATC Coin connection is positively strong, it means that when BTC is growing ATCC will grow as well. The negative strong relation will point that when BTC is growing ATCC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over ATC Coin. If we take all the circumstances affecting the price of ATCC 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 aspects, such as news, events or crypto related laws.