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DickCoin (DCK)

Correlation

-0.11

Influence

1.21%

Bitcoin and DickCoin Correlation

Does DickCoin depend on Bitcoin? Based on the correlation analysis, BTC and DCK have no or negligible relationship. The correlation coefficient of their prices is -0.11, which was computed based on the previous 100-days' price movements 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 indicates that the prices of the assets are going in the opposite direction while the positive coefficient indicates that the prices are moving in the identical trend. For example, if Bitcoin and DickCoin connection is positively strong, it means that when BTC is growing DCK will rise as well. The negative strong relation will tell that when BTC is rising DCK price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over DickCoin. If we take all the circumstances affecting the price of DCK as 100%, then the share of BTC price among these factors will be 1.21%. The other part which is 98.79% covers all the other things, such as media, events or politics.