Does MaieutiCoin depend on Bitcoin? According to the correlation analysis, BTC and MMXIV have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the previous 100-days' price fluctuations of both currencies.
This coefficient may change 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 coins are going in the reversed direction while the positive coefficient indicates that the prices are going in the same trend. For instance, if Bitcoin and MaieutiCoin connection is positively strong, it means that when BTC is rising MMXIV will grow as well. The negative strong relation will point that when BTC is rising MMXIV value will be in opposite decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over MaieutiCoin. If we take all the circumstances affecting the price of MMXIV 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, technological releases or crypto related laws.