Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.8875663 |
details, prediction |
XRP
XRP
|
0.66274405 |
details, prediction |
Bitcoin Cash
BCH
|
0.6085227 |
details, prediction |
Litecoin
LTC
|
0.5057042 |
details, prediction |
Ethereum Classic
ETC
|
0.49860647 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.84770095 |
details, prediction |
Tezos
XTZ
|
0.82680875 |
details, prediction |
IOTA
IOT
|
0.8019873 |
details, prediction |
Theta Fuel
TFUEL
|
0.7523971 |
details, prediction |
Zilliqa
ZIL
|
0.7295765 |
details, prediction |
|
Third tier
|
Komodo
KMD
|
0.87401134 |
details, prediction |
Matrix AI Network
MAN
|
0.86378264 |
details, prediction |
Internet of Services
IOST
|
0.8164705 |
details, prediction |
ARK
ARK
|
0.79187745 |
details, prediction |
IoTeX
IOTX
|
0.7725851 |
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
|
UNUS SED LEO
LEO
|
-0.9083917 |
details, prediction |
TRON
TRX
|
-0.6663661 |
details, prediction |
ZCash
ZEC
|
-0.20670336 |
details, prediction |
Bitcoin
BTC
|
-0.12213252 |
details, prediction |
Ethereum
ETH
|
-0.09175707 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.46704993 |
details, prediction |
True USD
TUSD
|
-0.44604293 |
details, prediction |
Dai
DAI
|
-0.2992591 |
details, prediction |
Algorand
ALGO
|
-0.22428374 |
details, prediction |
OriginTrail
TRAC
|
-0.13412699 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.522996 |
details, prediction |
Ontology
ONT
|
-0.49098364 |
details, prediction |
OPEN Platform
OPEN
|
-0.4274843 |
details, prediction |
Enjin Coin
ENJ
|
-0.337954 |
details, prediction |
NKN
NKN
|
-0.33610913 |
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)