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Dynamic (DYN)

Correlation

-0.32

Influence

10.24%

Bitcoin and Dynamic Correlation

Does Dynamic depend on Bitcoin? According to the correlation analysis, BTC and DYN have a moderate negative relationship. The correlation coefficient of their values is -0.32, which was measured based on the previous 100-days' price movements of both assets.

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 tells that the prices of the coins are going in the opposite trend while the positive coefficient indicates that the prices are moving in the identical direction. For example, if Bitcoin and Dynamic connection is positively strong, it means that when BTC is growing DYN will rise as well. The negative strong relation will show that when BTC is rising DYN value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Dynamic. If we take all the factors affecting the price of DYN as 100%, then the share of BTC price among these factors will be 10.24%. The other part which is 89.76% covers all the other things, such as news, technological releases or politics.