Does Distributed Credit Chain depend on Bitcoin? Based on the correlation analysis, BTC and DCC* have a strong negative relationship. The correlation coefficient of their prices is -0.58, which was computed based on the previous 100-days' price fluctuations of both coins.
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 shows that the prices of the assets are going in the reversed direction while the positive coefficient points that the prices are going in the identical direction. For example, if Bitcoin and Distributed Credit Chain connection is positively strong, it means that when BTC is rising DCC* will rise as well. The negative strong relation will point that when BTC is rising DCC* price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Distributed Credit Chain. If we take all the aspects affecting the price of DCC* as 100%, then the share of BTC price among these factors will be 33.64%. The other part which is 66.36% covers all the other circumstances, such as news, events or crypto related laws.