Does Victoriouscoin depend on Bitcoin? According to the correlation analysis, BTC and VTY have no relationship. The correlation coefficient of their values is 0.00, which was estimated based on the previous 100-days' price fluctuations of both coins.
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 indicates that the prices of the cryptocurrencies are going in the reversed direction while the positive coefficient tells that the prices are moving in the same trend. For instance, if Bitcoin and Victoriouscoin connection is positively strong, it means that when BTC is growing VTY will grow as well. The negative strong relation will point that when BTC is growing VTY value will be in contrary decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Victoriouscoin. If we take all the circumstances affecting the price of VTY 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, technological releases or politics.