Does DebitCoin depend on Bitcoin? Based on the correlation analysis, BTC and DBTC have a very strong positive relationship. The correlation coefficient of their prices is 0.92, which was measured based on the previous 100-days' price dynamics of both currencies.
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 shows that the prices of the coins are going in the contrary direction while the positive coefficient shows that the prices are moving in the same trend. For instance, if Bitcoin and DebitCoin connection is positively strong, it means that when BTC is growing DBTC will rise as well. The negative strong relation will tell that when BTC is rising DBTC price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over DebitCoin. If we take all the things affecting the price of DBTC as 100%, then the share of BTC price among these factors will be 84.64%. The other part which is 15.36% covers all the other factors, such as news, events or crypto related laws.