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Dekado (DKD)

Correlation

0.92

Influence

84.64%

Bitcoin and Dekado Correlation

Does Dekado depend on Bitcoin? Based on the correlation analysis, BTC and DKD have a very strong positive relationship. The correlation coefficient of their prices is 0.92, which was estimated based on the previous 100-days' price fluctuations of both assets.

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 means that the prices of the cryptocurrencies are going in the reversed trend while the positive coefficient shows that the prices are going in the identical direction. For instance, if Bitcoin and Dekado connection is positively strong, it means that when BTC is rising DKD will grow as well. The negative strong relation will tell that when BTC is growing DKD value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Dekado. If we take all the things affecting the price of DKD 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 regulations.