Does RadonPay depend on Bitcoin? According to the correlation analysis, BTC and RDN have a strong positive relationship. The correlation coefficient of their prices is 0.41, which was computed based on the last 100-days' price fluctuations of both coins.
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 means that the prices of the assets are moving in the reversed direction while the positive coefficient means that the prices are going in the same trend. For instance, if Bitcoin and RadonPay connection is positively strong, it means that when BTC is growing RDN will rise as well. The negative strong relation will tell that when BTC is rising RDN price will be in opposite lowering.
The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over RadonPay. If we take all the things affecting the price of RDN as 100%, then the share of BTC price among these factors will be 16.81%. The other part which is 83.19% covers all the other things, such as news, events or crypto related laws.