Does DubCoin depend on Bitcoin? According to the correlation analysis, BTC and DUB have a strong positive relationship. The correlation coefficient of their prices is 0.65, which was measured based on the last 100-days' price dynamics 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 coins are moving in the contrary direction while the positive coefficient shows that the prices are going in the identical trend. For instance, if Bitcoin and DubCoin connection is positively strong, it means that when BTC is growing DUB will grow as well. The negative strong relation will point that when BTC is rising DUB price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over DubCoin. If we take all the things affecting the price of DUB as 100%, then the share of BTC price among these factors will be 42.25%. The other part which is 57.75% covers all the other factors, such as media, technological releases or regulations.