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Datacoin (DTC)

Correlation

0.91

Influence

82.81%

Bitcoin and Datacoin Correlation

Does Datacoin depend on Bitcoin? Based on the correlation analysis, BTC and DTC have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was estimated based on the last 100-days' price dynamics of both assets.

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 indicates that the prices of the cryptocurrencies are moving in the contrary trend while the positive coefficient shows that the prices are moving in the same direction. For instance, if Bitcoin and Datacoin connection is positively strong, it means that when BTC is growing DTC will grow as well. The negative strong relation will tell that when BTC is growing DTC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Datacoin. If we take all the aspects affecting the price of DTC 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, technological releases or regulations.