Does Decred depend on Bitcoin? Based on the correlation analysis, BTC and DCR have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the previous 100-days' price dynamics of both coins.
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 shows that the prices of the coins are going in the contrary direction while the positive coefficient indicates that the prices are going in the identical direction. For instance, if Bitcoin and Decred connection is positively strong, it means that when BTC is rising DCR will grow as well. The negative strong relation will show that when BTC is rising DCR price will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Decred. If we take all the aspects affecting the price of DCR 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 media, events or regulations.