Does Decentralized Universal Basic Income depend on Bitcoin? Based on the correlation analysis, BTC and DUBI 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 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 currencies are going in the contrary direction while the positive coefficient means that the prices are going in the same trend. For example, if Bitcoin and Decentralized Universal Basic Income connection is positively strong, it means that when BTC is rising DUBI will grow as well. The negative strong relation will tell that when BTC is growing DUBI price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Decentralized Universal Basic Income. If we take all the circumstances affecting the price of DUBI 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 crypto related laws.