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LitecoinCash (LCASH)

Correlation

0.91

Influence

82.81%

Bitcoin and LitecoinCash Correlation

Does LitecoinCash depend on Bitcoin? According to the correlation analysis, BTC and LCASH have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the previous 100-days' price movements of both currencies.

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 indicates that the prices of the cryptocurrencies are going in the opposite direction while the positive coefficient means that the prices are moving in the identical trend. For example, if Bitcoin and LitecoinCash connection is positively strong, it means that when BTC is rising LCASH will rise as well. The negative strong relation will tell that when BTC is growing LCASH value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over LitecoinCash. If we take all the things affecting the price of LCASH as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other factors, such as news, events or crypto related laws.