Does Worldcore depend on Bitcoin? Based on the correlation analysis, BTC and WRC have a very strong positive relationship. The correlation coefficient of their prices is 0.91, which was measured based on the last 100-days' price fluctuations of both assets.
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 shows that the prices of the coins are moving in the reversed trend while the positive coefficient indicates that the prices are going in the identical direction. For example, if Bitcoin and Worldcore connection is positively strong, it means that when BTC is rising WRC will grow as well. The negative strong relation will indicate that when BTC is rising WRC price will be in opposite decreasing.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Worldcore. If we take all the factors affecting the price of WRC 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 aspects, such as news, events or politics.