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Zeta2Coin (ZET2)

Correlation

0.91

Influence

82.81%

Bitcoin and Zeta2Coin Correlation

Does Zeta2Coin depend on Bitcoin? Based on the correlation analysis, BTC and ZET2 have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was calculated based on the last 100-days' price movements of both coins.

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 currencies are moving in the opposite direction while the positive coefficient shows that the prices are going in the same direction. For example, if Bitcoin and Zeta2Coin connection is positively strong, it means that when BTC is growing ZET2 will grow as well. The negative strong relation will show that when BTC is rising ZET2 value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to determine in percentage the influence of Bitcoin over Zeta2Coin. If we take all the things affecting the price of ZET2 as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other things, such as news, events or politics.