Does DasCoin depend on Bitcoin? According to the correlation analysis, BTC and DASC have a strong positive relationship. The correlation coefficient of their values is 0.64, 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 indicates that the prices of the currencies are going in the opposite direction while the positive coefficient tells that the prices are moving in the same trend. For instance, if Bitcoin and DasCoin connection is positively strong, it means that when BTC is rising DASC will grow as well. The negative strong relation will point that when BTC is growing DASC value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over DasCoin. If we take all the factors affecting the price of DASC as 100%, then the share of BTC price among these factors will be 40.96%. The other part which is 59.04% covers all the other circumstances, such as news, events or politics.