BeachCoin (SAND)





Bitcoin and BeachCoin Correlation

Does BeachCoin depend on Bitcoin? According to the correlation analysis, BTC and SAND have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was estimated based on the last 100-days' price movements 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 means that the prices of the cryptocurrencies are moving in the opposite direction while the positive coefficient means that the prices are moving in the same direction. For example, if Bitcoin and BeachCoin connection is positively strong, it means that when BTC is rising SAND will grow as well. The negative strong relation will point that when BTC is growing SAND value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over BeachCoin. If we take all the aspects affecting the price of SAND 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, events or regulations.