Does Decentralized Machine Learning depend on Bitcoin? According to the correlation analysis, BTC and DML have no or negligible relationship. The correlation coefficient of their prices is 0.10, which was estimated based on the previous 100-days' price fluctuations of both coins.
This coefficient may vary 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 cryptocurrencies are going in the reversed direction while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and Decentralized Machine Learning connection is positively strong, it means that when BTC is growing DML will grow as well. The negative strong relation will indicate that when BTC is rising DML price will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Decentralized Machine Learning. If we take all the circumstances affecting the price of DML as 100%, then the share of BTC price among these factors will be 1.00%. The other part which is 99.00% covers all the other circumstances, such as media, events or crypto related laws.