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RonPaulCoin (RPC)

Correlation

-0.04

Influence

0.16%

Bitcoin and RonPaulCoin Correlation

Does RonPaulCoin depend on Bitcoin? According to the correlation analysis, BTC and RPC have no or negligible relationship. The correlation coefficient of their prices is -0.04, which was calculated based on the previous 100-days' price dynamics 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 shows that the prices of the currencies are going in the contrary trend while the positive coefficient shows that the prices are going in the identical trend. For instance, if Bitcoin and RonPaulCoin connection is positively strong, it means that when BTC is growing RPC will rise as well. The negative strong relation will show that when BTC is growing RPC price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over RonPaulCoin. If we take all the circumstances affecting the price of RPC as 100%, then the share of BTC price among these factors will be 0.16%. The other part which is 99.84% covers all the other factors, such as media, technological releases or politics.