Does Rasputin Online Coin depend on Bitcoin? According to the correlation analysis, BTC and ROC have a strong positive relationship. The correlation coefficient of their prices is 0.68, which was measured based on the previous 100-days' price dynamics 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 indicates that the prices of the coins are going in the contrary trend while the positive coefficient means that the prices are going in the identical direction. For example, if Bitcoin and Rasputin Online Coin connection is positively strong, it means that when BTC is rising ROC will grow as well. The negative strong relation will point that when BTC is rising ROC price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over Rasputin Online Coin. If we take all the things affecting the price of ROC as 100%, then the share of BTC price among these factors will be 46.24%. The other part which is 53.76% covers all the other things, such as news, technological releases or politics.