Constellation (DAG)





Bitcoin and Constellation Correlation

Does Constellation depend on Bitcoin? According to the correlation analysis, BTC and DAG have a moderate negative relationship. The correlation coefficient of their prices is -0.39, which was calculated based on the previous 100-days' price movements 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 currencies are going in the opposite direction while the positive coefficient points that the prices are going in the identical trend. For instance, if Bitcoin and Constellation connection is positively strong, it means that when BTC is rising DAG will rise as well. The negative strong relation will indicate that when BTC is growing DAG price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Constellation . If we take all the things affecting the price of DAG as 100%, then the share of BTC price among these factors will be 15.21%. The other part which is 84.79% covers all the other circumstances, such as media, technological releases or politics.