Does IslaCoin depend on Bitcoin? Based on the correlation analysis, BTC and ISL have no relationship. The correlation coefficient of their prices is 0.00, which was measured based on the previous 100-days' price dynamics of both coins.
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 shows that the prices of the coins are going in the contrary direction while the positive coefficient shows that the prices are moving in the same trend. For example, if Bitcoin and IslaCoin connection is positively strong, it means that when BTC is rising ISL will rise as well. The negative strong relation will tell that when BTC is growing ISL price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over IslaCoin. If we take all the things affecting the price of ISL as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other aspects, such as media, events or crypto related laws.