Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.9779249 |
details, prediction |
Bitcoin
BTC
|
0.9713564 |
details, prediction |
Litecoin
LTC
|
0.9603296 |
details, prediction |
Ethereum Classic
ETC
|
0.9587542 |
details, prediction |
Bitcoin Cash
BCH
|
0.954573 |
details, prediction |
|
Second tier
|
Tezos
XTZ
|
0.9747155 |
details, prediction |
Theta Fuel
TFUEL
|
0.96871626 |
details, prediction |
Vechain
VET
|
0.9676609 |
details, prediction |
QTUM
QTUM
|
0.96764994 |
details, prediction |
NEO
NEO
|
0.9676372 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.9701912 |
details, prediction |
Civic
CVC
|
0.96499056 |
details, prediction |
Bancor
BNT
|
0.960819 |
details, prediction |
ARK
ARK
|
0.9566081 |
details, prediction |
Lisk
LSK
|
0.9551041 |
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
|
-0.5300641 |
details, prediction |
TRON
TRX
|
0.19316472 |
details, prediction |
ZCash
ZEC
|
0.23337828 |
details, prediction |
Binance Coin
BNB
|
0.8145782 |
details, prediction |
Monero
XMR
|
0.87033176 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.88262826 |
details, prediction |
Dai
DAI
|
-0.79759276 |
details, prediction |
True USD
TUSD
|
-0.63248014 |
details, prediction |
Telcoin
TEL
|
0.29090774 |
details, prediction |
OriginTrail
TRAC
|
0.3727008 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.14137113 |
details, prediction |
Matrix AI Network
MAN
|
-0.052501637 |
details, prediction |
V Systems
VSYS
|
-0.0069935583 |
details, prediction |
Phantasma
SOUL
|
0.123268545 |
details, prediction |
NKN
NKN
|
0.38234514 |
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)