Does Debitum Token depend on Bitcoin? According to the correlation analysis, BTC and DEB have a very strong positive relationship. The correlation coefficient of their prices is 0.79, which was computed based on the last 100-days' price fluctuations of both cryptocurrencies.
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 means that the prices of the assets are moving in the reversed trend while the positive coefficient points that the prices are moving in the identical trend. For example, if Bitcoin and Debitum Token connection is positively strong, it means that when BTC is growing DEB will grow as well. The negative strong relation will indicate that when BTC is rising DEB value will be in opposite lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Debitum Token. If we take all the factors affecting the price of DEB as 100%, then the share of BTC price among these factors will be 62.41%. The other part which is 37.59% covers all the other things, such as media, technological releases or regulations.