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ZrCoin (ZRC)

Correlation

-0.38

Influence

14.44%

Bitcoin and ZrCoin Correlation

Does ZrCoin depend on Bitcoin? Based on the correlation analysis, BTC and ZRC have a moderate negative relationship. The correlation coefficient of their values is -0.38, which was estimated based on the previous 100-days' price fluctuations of both currencies.

This coefficient may range 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 cryptocurrencies are going in the reversed direction while the positive coefficient points that the prices are moving in the identical direction. For instance, if Bitcoin and ZrCoin connection is positively strong, it means that when BTC is growing ZRC will rise as well. The negative strong relation will show that when BTC is rising ZRC value will be in opposite lowering.

The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over ZrCoin. If we take all the factors affecting the price of ZRC as 100%, then the share of BTC price among these factors will be 14.44%. The other part which is 85.56% covers all the other things, such as media, events or politics.