Does DAS depend on Bitcoin? Based on the correlation analysis, BTC and DAS have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the last 100-days' price movements of both coins.
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 points that the prices of the coins are moving in the opposite direction while the positive coefficient means that the prices are moving in the identical direction. For example, if Bitcoin and DAS connection is positively strong, it means that when BTC is growing DAS will grow as well. The negative strong relation will point that when BTC is growing DAS price will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over DAS. If we take all the factors affecting the price of DAS 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 aspects, such as news, events or regulations.