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Dark (DARK)

Correlation

0.15

Influence

2.25%

Bitcoin and Dark Correlation

Does Dark depend on Bitcoin? Based on the correlation analysis, BTC and DARK have no or negligible relationship. The correlation coefficient of their values is 0.15, which was estimated based on the last 100-days' price fluctuations of both assets.

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 indicates that the prices of the cryptocurrencies are moving in the reversed trend while the positive coefficient tells that the prices are moving in the same direction. For example, if Bitcoin and Dark connection is positively strong, it means that when BTC is growing DARK will grow as well. The negative strong relation will indicate that when BTC is growing DARK price will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Dark. If we take all the circumstances affecting the price of DARK as 100%, then the share of BTC price among these factors will be 2.25%. The other part which is 97.75% covers all the other circumstances, such as media, events or regulations.