Does Stakerush depend on Bitcoin? Based on the correlation analysis, BTC and STHR have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was computed based on the last 100-days' price movements of both cryptocurrencies.
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 assets are moving in the opposite trend while the positive coefficient indicates that the prices are going in the identical trend. For example, if Bitcoin and Stakerush connection is positively strong, it means that when BTC is rising STHR will grow as well. The negative strong relation will show that when BTC is growing STHR price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Stakerush. If we take all the things affecting the price of STHR 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 aspects, such as media, technological releases or politics.