Does TrustCoin depend on Bitcoin? Based on the correlation analysis, BTC and TRST have a strong positive relationship. The correlation coefficient of their prices is 0.55, which was measured based on the previous 100-days' price dynamics of both coins.
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 indicates that the prices of the coins are going in the contrary direction while the positive coefficient means that the prices are going in the same trend. For example, if Bitcoin and TrustCoin connection is positively strong, it means that when BTC is growing TRST will grow as well. The negative strong relation will point that when BTC is growing TRST price will be in contrary lowering.
The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over TrustCoin. If we take all the things affecting the price of TRST as 100%, then the share of BTC price among these factors will be 30.25%. The other part which is 69.75% covers all the other aspects, such as media, events or politics.