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Deviant Coin (DEV)

Correlation

0.90

Influence

81.00%

Bitcoin and Deviant Coin Correlation

Does Deviant Coin depend on Bitcoin? According to the correlation analysis, BTC and DEV have a very strong positive relationship. The correlation coefficient of their prices is 0.90, which was calculated based on the last 100-days' price movements of both assets.

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 currencies are moving in the opposite trend while the positive coefficient means that the prices are moving in the identical direction. For example, if Bitcoin and Deviant Coin connection is positively strong, it means that when BTC is rising DEV will grow as well. The negative strong relation will point that when BTC is growing DEV price will be in contrary decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Deviant Coin. If we take all the aspects affecting the price of DEV as 100%, then the share of BTC price among these factors will be 81.00%. The other part which is 19.00% covers all the other factors, such as media, events or crypto related laws.