Does Zurcoin depend on Bitcoin? Based on the correlation analysis, BTC and ZUR have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was calculated based on the previous 100-days' price fluctuations 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 tells that the prices of the currencies are going in the reversed direction while the positive coefficient means that the prices are going in the identical trend. For instance, if Bitcoin and Zurcoin connection is positively strong, it means that when BTC is growing ZUR will rise as well. The negative strong relation will show that when BTC is growing ZUR value will be in contrary lowering.
The knowledge of the correlation coefficient helps to figure out in percentage the influence of Bitcoin over Zurcoin. If we take all the circumstances affecting the price of ZUR 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 circumstances, such as media, events or politics.