Does StableUSD depend on Bitcoin? Based on the correlation analysis, BTC and USDS have no or negligible relationship. The correlation coefficient of their values is 0.02, which was computed based on the previous 100-days' price dynamics of both currencies.
This coefficient may adjust 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 tells that the prices of the assets are going in the contrary direction while the positive coefficient shows that the prices are going in the identical direction. For instance, if Bitcoin and StableUSD connection is positively strong, it means that when BTC is rising USDS will grow as well. The negative strong relation will show that when BTC is rising USDS price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over StableUSD. If we take all the circumstances affecting the price of USDS as 100%, then the share of BTC price among these factors will be 0.04%. The other part which is 99.96% covers all the other things, such as media, technological releases or regulations.