Does ROS Coin depend on Bitcoin? According to the correlation analysis, BTC and ROS have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured 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 means that the prices of the coins are moving in the opposite direction while the positive coefficient means that the prices are going in the same direction. For instance, if Bitcoin and ROS Coin connection is positively strong, it means that when BTC is growing ROS will grow as well. The negative strong relation will show that when BTC is rising ROS value will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over ROS Coin. If we take all the factors affecting the price of ROS 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 news, events or regulations.