Does Aureus depend on Bitcoin? According to the correlation analysis, BTC and AURS have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was estimated based on the last 100-days' price fluctuations of both coins.
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 cryptocurrencies are moving in the reversed direction while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and Aureus connection is positively strong, it means that when BTC is growing AURS will rise as well. The negative strong relation will tell that when BTC is rising AURS price will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Aureus. If we take all the things affecting the price of AURS 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 media, events or regulations.