Does PabyosiCoin depend on Bitcoin? Based on the correlation analysis, BTC and PBC have no relationship. The correlation coefficient of their prices is 0.00, which was computed based on the last 100-days' price dynamics of both coins.
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 means that the prices of the assets are moving in the contrary direction while the positive coefficient tells that the prices are moving in the identical trend. For example, if Bitcoin and PabyosiCoin connection is positively strong, it means that when BTC is growing PBC will grow as well. The negative strong relation will point that when BTC is rising PBC value will be in opposite decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over PabyosiCoin. If we take all the things affecting the price of PBC 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 circumstances, such as media, technological releases or crypto related laws.