Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9614484 |
details, prediction |
Litecoin
LTC
|
0.9334708 |
details, prediction |
KuCoin Shares
KCS
|
0.9104394 |
details, prediction |
Monero
XMR
|
0.903617 |
details, prediction |
Crypto.com Chain
CRO
|
0.9006615 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
0.9785284 |
details, prediction |
EOS
EOS
|
0.97384757 |
details, prediction |
Synthetix Network Token
SNX
|
0.96534 |
details, prediction |
Tezos
XTZ
|
0.956248 |
details, prediction |
Basic Attention Token
BAT
|
0.95327586 |
details, prediction |
|
Third tier
|
Kleros
PNK
|
0.98142916 |
details, prediction |
Lisk
LSK
|
0.95756286 |
details, prediction |
SingularityNET
AGI
|
0.9518041 |
details, prediction |
Civic
CVC
|
0.9497727 |
details, prediction |
Bancor
BNT
|
0.9440121 |
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
|
TRON
TRX
|
-0.7747287 |
details, prediction |
UNUS SED LEO
LEO
|
0.39109814 |
details, prediction |
ZCash
ZEC
|
0.45889065 |
details, prediction |
Binance Coin
BNB
|
0.73302674 |
details, prediction |
Dogecoin
DOGE
|
0.7676603 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.4714963 |
details, prediction |
Decred
DCR
|
-0.116644226 |
details, prediction |
True USD
TUSD
|
0.03212647 |
details, prediction |
Algorand
ALGO
|
0.39530492 |
details, prediction |
Nexo
NEXO
|
0.41137198 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.45596993 |
details, prediction |
OPEN Platform
OPEN
|
-0.10493478 |
details, prediction |
Enjin Coin
ENJ
|
-0.083262816 |
details, prediction |
HEROcoin
PLAY
|
-0.064402156 |
details, prediction |
Kambria
KAT
|
0.07103794 |
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)