Does Dirac Coin depend on Bitcoin? According to the correlation analysis, BTC and XDQ have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured 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 tells that the prices of the coins are moving in the opposite trend while the positive coefficient means that the prices are moving in the same trend. For instance, if Bitcoin and Dirac Coin connection is positively strong, it means that when BTC is growing XDQ will rise as well. The negative strong relation will tell that when BTC is rising XDQ price will be in opposite lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Dirac Coin. If we take all the circumstances affecting the price of XDQ 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 things, such as news, technological releases or regulations.