Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.89352256 |
details, prediction |
Binance Coin
BNB
|
0.8916255 |
details, prediction |
ChainLink
LINK
|
0.88251084 |
details, prediction |
Bitcoin
BTC
|
0.8781462 |
details, prediction |
Monero
XMR
|
0.8458179 |
details, prediction |
|
Second tier
|
Bitcoin SV
BSV
|
0.8783102 |
details, prediction |
Theta
THETA
|
0.8169952 |
details, prediction |
QTUM
QTUM
|
0.80646664 |
details, prediction |
Vechain
VET
|
0.8040665 |
details, prediction |
Decred
DCR
|
0.7877147 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.82726467 |
details, prediction |
Dent
DENT
|
0.72005284 |
details, prediction |
Hydro Protocol
HOT
|
0.6999864 |
details, prediction |
Stox
STX
|
0.69930905 |
details, prediction |
Gas
GAS
|
0.66699636 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Cardano price can be leaded by other, more mighty cryptocurrency, or maybe some market trend have affect on it.
It can be confidently asserted that any crypto currency has a significant dependence on the market as a whole and, in particular, the top 3 currencies -
Bitcoin,
Ethereum and
Ripple, so the prediction of their prices will affect the price of Cardano
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.09699014 |
details, prediction |
KuCoin Shares
KCS
|
0.24661122 |
details, prediction |
TRON
TRX
|
0.3511747 |
details, prediction |
Ethereum Classic
ETC
|
0.63233334 |
details, prediction |
Dogecoin
DOGE
|
0.72014856 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.68677664 |
details, prediction |
USD//Coin
USDC
|
-0.65694565 |
details, prediction |
True USD
TUSD
|
-0.6408786 |
details, prediction |
Telcoin
TEL
|
-0.5451486 |
details, prediction |
aelf
ELF
|
-0.5241014 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
-0.7623278 |
details, prediction |
ICON
ICX
|
-0.75722015 |
details, prediction |
Matrix AI Network
MAN
|
-0.7157386 |
details, prediction |
NKN
NKN
|
-0.55240524 |
details, prediction |
BABB
BAX
|
-0.54553384 |
details, prediction |
This report should be leaned to build highly diversified portfolio.
It makes sense to mention that a low correlation in this case includes not only coins whose movements are not statistically related but, on the contrary, move in opposite directions (in the case of a negative value of the parameter)