Bitcoin and GAKHcoin Correlation

Does GAKHcoin depend on Bitcoin? According to the correlation analysis, BTC and GAKH have no relationship. The correlation coefficient of their prices is 0.00, which was calculated based on the previous 100-days' price movements of both assets.

This coefficient may change 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 shows that the prices of the currencies are going in the opposite trend while the positive coefficient means that the prices are moving in the identical trend. For example, if Bitcoin and GAKHcoin connection is positively strong, it means that when BTC is rising GAKH will grow as well. The negative strong relation will tell that when BTC is rising GAKH value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over GAKHcoin. If we take all the aspects affecting the price of GAKH as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other circumstances, such as media, events or politics.