In fact, the number of unique referring domains was the strongest correlation in our entire study.
Via Guillaume Decugis
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Via Guillaume Decugis
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This is a very detailed study on how the various criteria correlates with rankings.
Now, the big caveat is that correlation is not causation. For instance, the #1 correlation observed between the number of referring domains and the position in Google can be the result of a virtuous and amplifying cycle: content with backlinks from several domains get well ranked which means that other domains tend to refer to it as it's easily found in researching for a new piece of content.
Still, this post is a very interesting read to get a better of sense of how SEO works.
Some interesting information on how SEO works....Give this a read...you might be startled...
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