Does Dlisk depend on Bitcoin? Based on the correlation analysis, BTC and DLISK have a very strong positive relationship. The correlation coefficient of their prices is 0.70, 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 means that the prices of the currencies are going in the reversed direction while the positive coefficient indicates that the prices are going in the identical trend. For example, if Bitcoin and Dlisk connection is positively strong, it means that when BTC is growing DLISK will rise as well. The negative strong relation will indicate that when BTC is rising DLISK value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Dlisk. If we take all the circumstances affecting the price of DLISK as 100%, then the share of BTC price among these factors will be 49.00%. The other part which is 51.00% covers all the other circumstances, such as media, events or politics.