Does LeafCoin depend on Bitcoin? According to the correlation analysis, BTC and LEAF have no relationship. The correlation coefficient of their values is 0.00, which was estimated based on the last 100-days' price fluctuations 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 points that the prices of the cryptocurrencies are moving in the reversed trend while the positive coefficient points that the prices are moving in the identical trend. For example, if Bitcoin and LeafCoin connection is positively strong, it means that when BTC is rising LEAF will rise as well. The negative strong relation will show that when BTC is rising LEAF price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over LeafCoin. If we take all the circumstances affecting the price of LEAF 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 news, technological releases or politics.