Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.9386104 |
details, prediction |
Ethereum Classic
ETC
|
0.8587173 |
details, prediction |
XRP
XRP
|
0.85597235 |
details, prediction |
Binance Coin
BNB
|
0.8215615 |
details, prediction |
Bitcoin Cash
BCH
|
0.7839637 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
0.9620563 |
details, prediction |
IOTA
IOT
|
0.91401225 |
details, prediction |
Bitcoin Gold
BTG
|
0.913382 |
details, prediction |
Theta Fuel
TFUEL
|
0.9001575 |
details, prediction |
Tezos
XTZ
|
0.8873852 |
details, prediction |
|
Third tier
|
SingularityNET
AGI
|
0.9319701 |
details, prediction |
Komodo
KMD
|
0.9046939 |
details, prediction |
Internet of Services
IOST
|
0.9037227 |
details, prediction |
SwftCoin
SWFTC
|
0.9002251 |
details, prediction |
IoTeX
IOTX
|
0.8926946 |
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
|
-0.75355506 |
details, prediction |
ZCash
ZEC
|
-0.16527738 |
details, prediction |
Bitcoin
BTC
|
0.1644158 |
details, prediction |
Ethereum
ETH
|
0.17725202 |
details, prediction |
UNUS SED LEO
LEO
|
0.2315835 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
-0.37905177 |
details, prediction |
Algorand
ALGO
|
-0.21197784 |
details, prediction |
Bitcoin SV
BSV
|
-0.07461583 |
details, prediction |
HoloToken
HOT
|
0.08259196 |
details, prediction |
True USD
TUSD
|
0.10576065 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.65216047 |
details, prediction |
OPEN Platform
OPEN
|
-0.54113567 |
details, prediction |
Enjin Coin
ENJ
|
-0.46267125 |
details, prediction |
V Systems
VSYS
|
-0.27371114 |
details, prediction |
NKN
NKN
|
-0.1398153 |
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)