Does LeninCoin depend on Bitcoin? According to the correlation analysis, BTC and LENIN have no relationship. The correlation coefficient of their prices is -0.00, which was measured based on the previous 100-days' price fluctuations of both coins.
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 coins are going in the reversed direction while the positive coefficient indicates that the prices are moving in the same trend. For example, if Bitcoin and LeninCoin connection is positively strong, it means that when BTC is growing LENIN will rise as well. The negative strong relation will tell that when BTC is rising LENIN value will be in opposite lowering.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over LeninCoin. If we take all the circumstances affecting the price of LENIN 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 things, such as media, events or crypto related laws.