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DollarCoin (DLC)

Correlation

0.91

Influence

82.81%

Bitcoin and DollarCoin Correlation

Does DollarCoin depend on Bitcoin? According to the correlation analysis, BTC and DLC have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was calculated based on the last 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 indicates that the prices of the currencies are moving in the opposite direction while the positive coefficient means that the prices are going in the identical direction. For example, if Bitcoin and DollarCoin connection is positively strong, it means that when BTC is growing DLC will grow as well. The negative strong relation will tell that when BTC is rising DLC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over DollarCoin. If we take all the factors affecting the price of DLC 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.