Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Binance Coin
BNB
|
0.8222792 |
details, prediction |
Litecoin
LTC
|
0.8056771 |
details, prediction |
Bitcoin Cash
BCH
|
0.8043934 |
details, prediction |
Bitcoin
BTC
|
0.7554588 |
details, prediction |
Ethereum
ETH
|
0.69232416 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.8387705 |
details, prediction |
Horizen
ZEN
|
0.75087684 |
details, prediction |
QTUM
QTUM
|
0.72649604 |
details, prediction |
Theta
THETA
|
0.71385384 |
details, prediction |
0x
ZRX
|
0.687186 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.7824677 |
details, prediction |
Dero
DERO
|
0.74398464 |
details, prediction |
SysCoin
SYS
|
0.72393924 |
details, prediction |
Achain
ACT
|
0.64321667 |
details, prediction |
Gas
GAS
|
0.59389794 |
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
|
0.21828867 |
details, prediction |
Ethereum Classic
ETC
|
0.4990954 |
details, prediction |
TRON
TRX
|
0.51805514 |
details, prediction |
KuCoin Shares
KCS
|
0.518682 |
details, prediction |
Dogecoin
DOGE
|
0.5729982 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.792737 |
details, prediction |
USD//Coin
USDC
|
-0.6394065 |
details, prediction |
True USD
TUSD
|
-0.6236969 |
details, prediction |
Telcoin
TEL
|
-0.14275587 |
details, prediction |
Waves
WAVES
|
-0.12701501 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.4778299 |
details, prediction |
Storj
STORJ
|
-0.23403476 |
details, prediction |
ICON
ICX
|
-0.2237606 |
details, prediction |
Electroneum
ETN
|
-0.22266659 |
details, prediction |
NKN
NKN
|
-0.20297365 |
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)