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ZestCoin (ZEST)

Correlation

-0.30

Influence

9.00%

Bitcoin and ZestCoin Correlation

Does ZestCoin depend on Bitcoin? Based on the correlation analysis, BTC and ZEST have a moderate negative relationship. The correlation coefficient of their prices is -0.30, which was measured based on the last 100-days' price dynamics of both assets.

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 indicates that the prices of the coins are moving in the contrary trend while the positive coefficient shows that the prices are going in the identical direction. For example, if Bitcoin and ZestCoin connection is positively strong, it means that when BTC is growing ZEST will grow as well. The negative strong relation will show that when BTC is growing ZEST value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over ZestCoin. If we take all the factors affecting the price of ZEST as 100%, then the share of BTC price among these factors will be 9.00%. The other part which is 91.00% covers all the other aspects, such as news, events or politics.