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DixiCoin (DXC)

Correlation

0.91

Influence

82.81%

Bitcoin and DixiCoin Correlation

Does DixiCoin depend on Bitcoin? According to the correlation analysis, BTC and DXC have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was calculated based on the previous 100-days' price movements 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 means that the prices of the currencies are going in the opposite direction while the positive coefficient points that the prices are going in the same trend. For instance, if Bitcoin and DixiCoin connection is positively strong, it means that when BTC is rising DXC will rise as well. The negative strong relation will show that when BTC is rising DXC price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over DixiCoin. If we take all the circumstances affecting the price of DXC 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 aspects, such as news, events or regulations.