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LeadCoin (LDC*)

Correlation

-0.53

Influence

28.09%

Bitcoin and LeadCoin Correlation

Does LeadCoin depend on Bitcoin? According to the correlation analysis, BTC and LDC* have a strong negative relationship. The correlation coefficient of their prices is -0.53, which was computed based on the previous 100-days' price dynamics of both assets.

This coefficient may vary 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 means that the prices of the assets are going in the contrary trend while the positive coefficient shows that the prices are going in the same trend. For instance, if Bitcoin and LeadCoin connection is positively strong, it means that when BTC is rising LDC* will grow as well. The negative strong relation will indicate that when BTC is growing LDC* value will be in contrary lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over LeadCoin. If we take all the circumstances affecting the price of LDC* as 100%, then the share of BTC price among these factors will be 28.09%. The other part which is 71.91% covers all the other factors, such as media, events or crypto related laws.