Does KRCoin depend on Bitcoin? According to the correlation analysis, BTC and KRC have no relationship. The correlation coefficient of their values is 0.00, which was measured based on the previous 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 indicates that the prices of the coins are going in the contrary trend while the positive coefficient tells that the prices are going in the identical direction. For instance, if Bitcoin and KRCoin connection is positively strong, it means that when BTC is rising KRC will rise as well. The negative strong relation will show that when BTC is rising KRC price will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over KRCoin. If we take all the things affecting the price of KRC 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 circumstances, such as news, technological releases or regulations.