ZeitCoin (ZEIT)





Bitcoin and ZeitCoin Correlation

Does ZeitCoin depend on Bitcoin? Based on the correlation analysis, BTC and ZEIT have no relationship. The correlation coefficient of their prices is 0.00, which was computed based on the previous 100-days' price movements of both currencies.

This coefficient may adjust 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 assets are going in the opposite direction while the positive coefficient indicates that the prices are moving in the identical direction. For instance, if Bitcoin and ZeitCoin connection is positively strong, it means that when BTC is rising ZEIT will grow as well. The negative strong relation will tell that when BTC is growing ZEIT value will be in contrary decreasing.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over ZeitCoin. If we take all the things affecting the price of ZEIT 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 circumstances, such as media, technological releases or regulations.