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ZayedCoin (ZYD)

Correlation

0.20

Influence

4.00%

Bitcoin and ZayedCoin Correlation

Does ZayedCoin depend on Bitcoin? According to the correlation analysis, BTC and ZYD have a weak positive relationship. The correlation coefficient of their prices is 0.20, which was estimated based on the previous 100-days' price dynamics 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 cryptocurrencies are going in the contrary trend while the positive coefficient points that the prices are going in the same trend. For instance, if Bitcoin and ZayedCoin connection is positively strong, it means that when BTC is rising ZYD will grow as well. The negative strong relation will point that when BTC is growing ZYD value will be in contrary lowering.

The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over ZayedCoin. If we take all the factors affecting the price of ZYD as 100%, then the share of BTC price among these factors will be 4.00%. The other part which is 96.00% covers all the other aspects, such as media, technological releases or regulations.