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HashCoin (HSC)

Correlation

-0.01

Influence

0.01%

Bitcoin and HashCoin Correlation

Does HashCoin depend on Bitcoin? According to the correlation analysis, BTC and HSC have no or negligible relationship. The correlation coefficient of their values is -0.01, which was calculated based on the last 100-days' price movements of both currencies.

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 points that the prices of the currencies are moving in the opposite direction while the positive coefficient means that the prices are going in the same trend. For instance, if Bitcoin and HashCoin connection is positively strong, it means that when BTC is growing HSC will grow as well. The negative strong relation will indicate that when BTC is growing HSC value will be in opposite lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over HashCoin . If we take all the circumstances affecting the price of HSC as 100%, then the share of BTC price among these factors will be 0.01%. The other part which is 99.99% covers all the other things, such as news, technological releases or crypto related laws.