Does StartCoin depend on Bitcoin? According to the correlation analysis, BTC and START have no relationship. The correlation coefficient of their prices is 0.00, which was measured based on the previous 100-days' price movements of both coins.
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 coins are going in the opposite direction while the positive coefficient means that the prices are going in the same trend. For example, if Bitcoin and StartCoin connection is positively strong, it means that when BTC is growing START will grow as well. The negative strong relation will show that when BTC is rising START value will be in opposite decreasing.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over StartCoin. If we take all the circumstances affecting the price of START as 100%, then the share of BTC price among these factors will be 0.00%. The other part which is 100.00% covers all the other factors, such as media, events or politics.