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CryCash (CRC**)

Correlation

0.12

Influence

1.44%

Bitcoin and CryCash Correlation

Does CryCash depend on Bitcoin? Based on the correlation analysis, BTC and CRC** have no or negligible relationship. The correlation coefficient of their prices is 0.12, which was calculated based on the previous 100-days' price dynamics of both currencies.

This coefficient may range 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 contrary direction while the positive coefficient means that the prices are going in the identical direction. For instance, if Bitcoin and CryCash connection is positively strong, it means that when BTC is growing CRC** will grow as well. The negative strong relation will indicate that when BTC is rising CRC** value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over CryCash. If we take all the factors affecting the price of CRC** 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 factors, such as media, events or regulations.