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Ditcoin (DIT)

Correlation

0.76

Influence

57.76%

Bitcoin and Ditcoin Correlation

Does Ditcoin depend on Bitcoin? According to the correlation analysis, BTC and DIT have a very strong positive relationship. The correlation coefficient of their values is 0.76, which was computed based on the last 100-days' price fluctuations of both currencies.

This coefficient may vary 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 moving in the reversed direction while the positive coefficient points that the prices are moving in the identical direction. For instance, if Bitcoin and Ditcoin connection is positively strong, it means that when BTC is rising DIT will rise as well. The negative strong relation will show that when BTC is rising DIT price will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Ditcoin. If we take all the factors affecting the price of DIT as 100%, then the share of BTC price among these factors will be 57.76%. The other part which is 42.24% covers all the other aspects, such as news, events or regulations.