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HavEther (HET)

Correlation

-0.11

Influence

1.21%

Bitcoin and HavEther Correlation

Does HavEther depend on Bitcoin? According to the correlation analysis, BTC and HET have no or negligible relationship. The correlation coefficient of their prices is -0.11, which was measured based on the last 100-days' price fluctuations 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 means that the prices of the coins are moving in the reversed direction while the positive coefficient indicates that the prices are going in the same trend. For example, if Bitcoin and HavEther connection is positively strong, it means that when BTC is growing HET will rise as well. The negative strong relation will indicate that when BTC is rising HET price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over HavEther. If we take all the things affecting the price of HET as 100%, then the share of BTC price among these factors will be 1.21%. The other part which is 98.79% covers all the other factors, such as media, events or politics.