Does Divi depend on Bitcoin? Based on the correlation analysis, BTC and DIVX have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was calculated based on the previous 100-days' price fluctuations 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 shows that the prices of the currencies are going in the reversed direction while the positive coefficient indicates that the prices are going in the same trend. For instance, if Bitcoin and Divi connection is positively strong, it means that when BTC is growing DIVX will grow as well. The negative strong relation will indicate that when BTC is rising DIVX value will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Divi. If we take all the factors affecting the price of DIVX as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other things, such as media, technological releases or crypto related laws.