Does HTML Coin depend on Bitcoin? Based on the correlation analysis, BTC and HTML have a strong positive relationship. The correlation coefficient of their values is 0.62, which was computed based on the last 100-days' price movements of both assets.
This coefficient may adjust 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 assets are moving in the opposite trend while the positive coefficient tells that the prices are going in the identical trend. For example, if Bitcoin and HTML Coin connection is positively strong, it means that when BTC is rising HTML will rise as well. The negative strong relation will tell that when BTC is growing HTML value will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over HTML Coin. If we take all the circumstances affecting the price of HTML as 100%, then the share of BTC price among these factors will be 38.44%. The other part which is 61.56% covers all the other circumstances, such as news, events or regulations.