Does DigiByte depend on Bitcoin? According to the correlation analysis, BTC and DGB have a very strong positive relationship. The correlation coefficient of their values is 0.70, which was estimated based on the last 100-days' price fluctuations of both assets.

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 cryptocurrencies are moving in the reversed trend while the positive coefficient indicates that the prices are moving in the same direction. For example, if Bitcoin and DigiByte connection is positively strong, it means that when BTC is rising DGB will grow as well. The negative strong relation will indicate that when BTC is rising DGB value will be in contrary lowering.

The knowledge of the correlation coefficient helps to compute in percentage the influence of Bitcoin over DigiByte. If we take all the circumstances affecting the price of DGB as 100%, then the share of BTC price among these factors will be 49.00%. The other part which is 51.00% covers all the other aspects, such as news, events or regulations.