Does Clickcoin depend on Bitcoin? According to the correlation analysis, BTC and CLICK have no or negligible relationship. The correlation coefficient of their prices is -0.12, which was computed based on the previous 100-days' price movements of both assets.
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 shows that the prices of the assets are going in the opposite trend while the positive coefficient shows that the prices are going in the same direction. For example, if Bitcoin and Clickcoin connection is positively strong, it means that when BTC is growing CLICK will grow as well. The negative strong relation will indicate that when BTC is rising CLICK price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Clickcoin. If we take all the aspects affecting the price of CLICK as 100%, then the share of BTC price among these factors will be 1.44%. The other part which is 98.56% covers all the other circumstances, such as news, technological releases or crypto related laws.