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Casper API (CST)

Correlation

0.91

Influence

82.81%

Bitcoin and Casper API Correlation

Does Casper API depend on Bitcoin? According to the correlation analysis, BTC and CST have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the previous 100-days' price dynamics 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 contrary direction while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and Casper API connection is positively strong, it means that when BTC is rising CST will grow as well. The negative strong relation will tell that when BTC is rising CST value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Casper API. If we take all the aspects affecting the price of CST 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 politics.