Does SegWit2x depend on Bitcoin? Based on the correlation analysis, BTC and B2X have no or negligible relationship. The correlation coefficient of their values is -0.13, which was calculated based on the last 100-days' price fluctuations of both currencies.
This coefficient may range 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 currencies are moving in the reversed direction while the positive coefficient shows that the prices are going in the identical direction. For instance, if Bitcoin and SegWit2x connection is positively strong, it means that when BTC is growing B2X will rise as well. The negative strong relation will point that when BTC is rising B2X price will be in contrary lowering.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over SegWit2x. If we take all the things affecting the price of B2X as 100%, then the share of BTC price among these factors will be 1.69%. The other part which is 98.31% covers all the other factors, such as news, events or crypto related laws.