Does LeaCoin depend on Bitcoin? Based on the correlation analysis, BTC and LEA have no relationship. The correlation coefficient of their prices is 0.00, which was estimated based on the last 100-days' price fluctuations 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 cryptocurrencies are moving in the reversed direction while the positive coefficient means that the prices are moving in the same trend. For example, if Bitcoin and LeaCoin connection is positively strong, it means that when BTC is growing LEA will grow as well. The negative strong relation will indicate that when BTC is growing LEA price will be in opposite lowering.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over LeaCoin. If we take all the circumstances affecting the price of LEA 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, events or crypto related laws.