Does PayPeer depend on Bitcoin? Based on the correlation analysis, BTC and PAYP have no relationship. The correlation coefficient of their prices is 0.00, which was computed based on the previous 100-days' price fluctuations of both assets.
This coefficient may adjust 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 going in the reversed trend while the positive coefficient indicates that the prices are going in the identical trend. For instance, if Bitcoin and PayPeer connection is positively strong, it means that when BTC is growing PAYP will rise as well. The negative strong relation will point that when BTC is rising PAYP value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over PayPeer. If we take all the things affecting the price of PAYP 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 aspects, such as news, technological releases or regulations.