Does RG Coin depend on Bitcoin? Based on the correlation analysis, BTC and RGC have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the last 100-days' price dynamics of both coins.
This coefficient may adjust 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 points that the prices of the coins are moving in the contrary direction while the positive coefficient indicates that the prices are going in the same trend. For instance, if Bitcoin and RG Coin connection is positively strong, it means that when BTC is growing RGC will rise as well. The negative strong relation will show that when BTC is rising RGC price will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over RG Coin. If we take all the aspects affecting the price of RGC 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, technological releases or regulations.