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HyperCash (HC)

Correlation

0.74

Influence

54.76%

Bitcoin and HyperCash Correlation

Does HyperCash depend on Bitcoin? According to the correlation analysis, BTC and HC have a very strong positive relationship. The correlation coefficient of their prices is 0.74, which was measured based on the last 100-days' price fluctuations 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 indicates that the prices of the coins are moving in the reversed trend while the positive coefficient shows that the prices are going in the same trend. For example, if Bitcoin and HyperCash connection is positively strong, it means that when BTC is growing HC will rise as well. The negative strong relation will indicate that when BTC is rising HC value will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over HyperCash. If we take all the things affecting the price of HC as 100%, then the share of BTC price among these factors will be 54.76%. The other part which is 45.24% covers all the other aspects, such as media, technological releases or crypto related laws.