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Original Crypto Coin (OCC)

Correlation

0.68

Influence

46.24%

Bitcoin and Original Crypto Coin Correlation

Does Original Crypto Coin depend on Bitcoin? Based on the correlation analysis, BTC and OCC have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was measured based on the previous 100-days' price fluctuations of both currencies.

This coefficient may range 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 coins are going in the reversed direction while the positive coefficient tells that the prices are moving in the same trend. For example, if Bitcoin and Original Crypto Coin connection is positively strong, it means that when BTC is rising OCC will grow as well. The negative strong relation will show that when BTC is growing OCC value will be in contrary lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Original Crypto Coin. If we take all the aspects affecting the price of OCC as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other factors, such as news, technological releases or politics.