Does Cryptsy Points depend on Bitcoin? Based on the correlation analysis, BTC and POINTS have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the previous 100-days' price fluctuations of both coins.
This coefficient may adjust 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 reversed direction while the positive coefficient points that the prices are moving in the identical direction. For example, if Bitcoin and Cryptsy Points connection is positively strong, it means that when BTC is growing POINTS will grow as well. The negative strong relation will show that when BTC is rising POINTS value will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Cryptsy Points. If we take all the aspects affecting the price of POINTS 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 news, events or crypto related laws.