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YesCoin (YES)

Correlation

-0.25

Influence

6.25%

Bitcoin and YesCoin Correlation

Does YesCoin depend on Bitcoin? Based on the correlation analysis, BTC and YES have a weak negative relationship. The correlation coefficient of their prices is -0.25, which was computed based on the previous 100-days' price movements of both currencies.

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 means that the prices of the assets are going in the opposite direction while the positive coefficient tells that the prices are moving in the same direction. For example, if Bitcoin and YesCoin connection is positively strong, it means that when BTC is rising YES will grow as well. The negative strong relation will tell that when BTC is rising YES price will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over YesCoin. If we take all the aspects affecting the price of YES as 100%, then the share of BTC price among these factors will be 6.25%. The other part which is 93.75% covers all the other factors, such as news, events or crypto related laws.