ZetaCoin (ZET)





Bitcoin and ZetaCoin Correlation

Does ZetaCoin depend on Bitcoin? According to the correlation analysis, BTC and ZET have no relationship. The correlation coefficient of their values is 0.00, which was measured based on the previous 100-days' price movements of both coins.

This coefficient may vary 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 points that the prices of the coins are going in the opposite direction while the positive coefficient points that the prices are moving in the same trend. For example, if Bitcoin and ZetaCoin connection is positively strong, it means that when BTC is rising ZET will grow as well. The negative strong relation will show that when BTC is rising ZET value will be in opposite decreasing.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over ZetaCoin. If we take all the factors affecting the price of ZET 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 factors, such as news, technological releases or regulations.