Does RevolverCoin depend on Bitcoin? According to the correlation analysis, BTC and XRE have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was estimated based on the last 100-days' price movements of both coins.
This coefficient may vary 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 cryptocurrencies are moving in the opposite direction while the positive coefficient tells that the prices are going in the same trend. For example, if Bitcoin and RevolverCoin connection is positively strong, it means that when BTC is growing XRE will rise as well. The negative strong relation will show that when BTC is growing XRE price will be in contrary decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over RevolverCoin. If we take all the factors affecting the price of XRE 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 things, such as media, events or crypto related laws.