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RE: Bitcoin Cash - Why I think it's going to $1500+ / BCC Mining Support @ 48% of total HashPower!
There is definitely room for both to exist at similar market caps. If all of of the Ƀitcoins in the world were split evenly between everyone, each single person would only get 0.003 Ƀ
The price will continually go up, as more and more people become interested. There are waves of new people each day. Any gaps in the market will be filled by newcomers. To the moon!
I guess I didn't address your question directly;
My thoughts are that yes, eventually both will be above the current price of Ƀ right now. It may take a while to get there, but I think both will eventually climb.
But, to answer your question more directly, it may currently be more like what you say, where one's value is directly correlated to the other, and BCC "taking price" from BTC.
I think over time the effect of this will subside and we will eventually see both on the rise.