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Quazar Coin (QCN)

Correlation

0.91

Influence

82.81%

Bitcoin and Quazar Coin Correlation

Does Quazar Coin depend on Bitcoin? According to the correlation analysis, BTC and QCN have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was calculated based on the last 100-days' price movements of both assets.

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 currencies are moving in the opposite trend while the positive coefficient tells that the prices are moving in the same direction. For instance, if Bitcoin and Quazar Coin connection is positively strong, it means that when BTC is growing QCN will rise as well. The negative strong relation will indicate that when BTC is rising QCN value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Quazar Coin. If we take all the circumstances affecting the price of QCN 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 circumstances, such as media, technological releases or regulations.