Does PostCoin depend on Bitcoin? According to the correlation analysis, BTC and POST have a strong positive relationship. The correlation coefficient of their prices is 0.65, which was estimated based on the previous 100-days' price fluctuations 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 shows that the prices of the cryptocurrencies are going in the reversed trend while the positive coefficient tells that the prices are moving in the same direction. For instance, if Bitcoin and PostCoin connection is positively strong, it means that when BTC is rising POST will grow as well. The negative strong relation will indicate that when BTC is growing POST price will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over PostCoin. If we take all the aspects affecting the price of POST as 100%, then the share of BTC price among these factors will be 42.25%. The other part which is 57.75% covers all the other factors, such as media, events or regulations.