Does Dashcoin depend on Bitcoin? Based on the correlation analysis, BTC and DSH 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 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 shows that the prices of the currencies are going in the reversed direction while the positive coefficient tells that the prices are moving in the identical direction. For example, if Bitcoin and Dashcoin connection is positively strong, it means that when BTC is rising DSH will rise as well. The negative strong relation will indicate that when BTC is rising DSH value will be in opposite decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Dashcoin. If we take all the circumstances affecting the price of DSH 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 things, such as news, technological releases or regulations.