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PeaceCoin (PEC)

Correlation

0.91

Influence

82.81%

Bitcoin and PeaceCoin Correlation

Does PeaceCoin depend on Bitcoin? According to the correlation analysis, BTC and PEC have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the previous 100-days' price movements of both cryptocurrencies.

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 tells that the prices of the coins are going in the opposite trend while the positive coefficient tells that the prices are going in the same trend. For instance, if Bitcoin and PeaceCoin connection is positively strong, it means that when BTC is rising PEC will rise as well. The negative strong relation will point that when BTC is growing PEC price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over PeaceCoin. If we take all the aspects affecting the price of PEC 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 regulations.