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SecureCoin (SRC)

Correlation

0.84

Influence

70.56%

Bitcoin and SecureCoin Correlation

Does SecureCoin depend on Bitcoin? According to the correlation analysis, BTC and SRC have a very strong positive relationship. The correlation coefficient of their prices is 0.84, which was measured based on the last 100-days' price dynamics of both coins.

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 means that the prices of the coins are moving in the contrary direction while the positive coefficient means that the prices are moving in the same trend. For example, if Bitcoin and SecureCoin connection is positively strong, it means that when BTC is growing SRC will grow as well. The negative strong relation will tell that when BTC is rising SRC value will be in opposite lowering.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over SecureCoin. If we take all the aspects affecting the price of SRC as 100%, then the share of BTC price among these factors will be 70.56%. The other part which is 29.44% covers all the other circumstances, such as media, technological releases or crypto related laws.