Does Cerberus depend on Bitcoin? According to the correlation analysis, BTC and CBS have no relationship. The correlation coefficient of their prices is 0.00, which was estimated based on the previous 100-days' price dynamics of both coins.
This coefficient may vary 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 going in the contrary direction while the positive coefficient indicates that the prices are moving in the identical direction. For example, if Bitcoin and Cerberus connection is positively strong, it means that when BTC is growing CBS will rise as well. The negative strong relation will tell that when BTC is growing CBS value will be in opposite lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Cerberus. If we take all the things affecting the price of CBS as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other things, such as media, technological releases or regulations.