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Royal Kingdom Coin (RKC)

Correlation

0.88

Influence

77.44%

Bitcoin and Royal Kingdom Coin Correlation

Does Royal Kingdom Coin depend on Bitcoin? According to the correlation analysis, BTC and RKC have a very strong positive relationship. The correlation coefficient of their prices is 0.88, which was calculated based on the last 100-days' price movements of both currencies.

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 currencies are moving in the opposite direction while the positive coefficient indicates that the prices are moving in the same direction. For instance, if Bitcoin and Royal Kingdom Coin connection is positively strong, it means that when BTC is growing RKC will grow as well. The negative strong relation will indicate that when BTC is growing RKC value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Royal Kingdom Coin. If we take all the factors affecting the price of RKC as 100%, then the share of BTC price among these factors will be 77.44%. The other part which is 22.56% covers all the other circumstances, such as news, events or crypto related laws.