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YoCoin (YOC)

Correlation

0.39

Influence

15.21%

Bitcoin and YoCoin Correlation

Does YoCoin depend on Bitcoin? According to the correlation analysis, BTC and YOC have a moderate positive relationship. The correlation coefficient of their prices is 0.39, which was measured based on the previous 100-days' price fluctuations of both cryptocurrencies.

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 coins are going in the reversed trend while the positive coefficient points that the prices are going in the same trend. For instance, if Bitcoin and YoCoin connection is positively strong, it means that when BTC is growing YOC will rise as well. The negative strong relation will point that when BTC is rising YOC price will be in contrary lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over YoCoin. If we take all the aspects affecting the price of YOC as 100%, then the share of BTC price among these factors will be 15.21%. The other part which is 84.79% covers all the other circumstances, such as media, events or regulations.