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Vertcoin (VTC)

Correlation

0.84

Influence

70.56%

Bitcoin and Vertcoin Correlation

Does Vertcoin depend on Bitcoin? According to the correlation analysis, BTC and VTC have a very strong positive relationship. The correlation coefficient of their values is 0.84, which was measured based on the previous 100-days' price movements of both currencies.

This coefficient may change 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 coins are going in the opposite direction while the positive coefficient points that the prices are moving in the identical direction. For instance, if Bitcoin and Vertcoin connection is positively strong, it means that when BTC is rising VTC will rise as well. The negative strong relation will tell that when BTC is rising VTC value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Vertcoin. If we take all the factors affecting the price of VTC as 100%, then the share of BTC price among these factors will be 70.56%. The other part which is 29.44% covers all the other aspects, such as news, technological releases or politics.