Does Impulse Coin depend on Bitcoin? According to the correlation analysis, BTC and IMPS have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price dynamics of both cryptocurrencies.
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 tells that the prices of the assets are moving in the contrary trend while the positive coefficient indicates that the prices are going in the same trend. For example, if Bitcoin and Impulse Coin connection is positively strong, it means that when BTC is growing IMPS will rise as well. The negative strong relation will show that when BTC is growing IMPS price will be in contrary lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Impulse Coin. If we take all the aspects affecting the price of IMPS as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other things, such as media, events or regulations.