NeptuneClassic (NTCC)





Bitcoin and NeptuneClassic Correlation

Does NeptuneClassic depend on Bitcoin? According to the correlation analysis, BTC and NTCC have no relationship. The correlation coefficient of their prices is -0.00, which was estimated based on the last 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 moving in the opposite direction while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and NeptuneClassic connection is positively strong, it means that when BTC is rising NTCC will grow as well. The negative strong relation will show that when BTC is growing NTCC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over NeptuneClassic. If we take all the factors affecting the price of NTCC 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 factors, such as news, technological releases or politics.