Does Vaporcoin depend on Bitcoin? Based on the correlation analysis, BTC and VAPOR have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was estimated based on the previous 100-days' price dynamics 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 tells that the prices of the cryptocurrencies are going in the contrary trend while the positive coefficient shows that the prices are moving in the identical trend. For example, if Bitcoin and Vaporcoin connection is positively strong, it means that when BTC is growing VAPOR will grow as well. The negative strong relation will show that when BTC is growing VAPOR value will be in opposite lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Vaporcoin. If we take all the circumstances affecting the price of VAPOR 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 things, such as media, technological releases or regulations.