Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Binance Coin
BNB
|
0.8194919 |
details, prediction |
UNUS SED LEO
LEO
|
0.78863776 |
details, prediction |
Crypto.com Chain
CRO
|
0.7755404 |
details, prediction |
Monero
XMR
|
0.7646361 |
details, prediction |
Vechain
VET
|
0.7644481 |
details, prediction |
Second tier
|
Theta Fuel
TFUEL
|
0.84706384 |
details, prediction |
Algorand
ALGO
|
0.84119594 |
details, prediction |
Decentraland
MANA
|
0.82063454 |
details, prediction |
Digix DAO
DGD
|
0.80499876 |
details, prediction |
Huobi Token
HT
|
0.8034515 |
details, prediction |
Third tier
|
NEXT
NET
|
0.9202751 |
details, prediction |
Curecoin
CURE
|
0.8808182 |
details, prediction |
FeatherCoin
FTC
|
0.8746936 |
details, prediction |
RubyCoin
RBY
|
0.8728372 |
details, prediction |
Credit Tag Chain
CTC
|
0.86988384 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ALAX 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 ALAX
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
ChainLink
LINK
|
-0.6547234 |
details, prediction |
SONM
SNM
|
-0.5646368 |
details, prediction |
IOTA
IOT
|
-0.45113185 |
details, prediction |
Maker
MKR
|
-0.011267438 |
details, prediction |
XRP
XRP
|
0.12611187 |
details, prediction |
Second tier
|
0x
ZRX
|
-0.7816824 |
details, prediction |
Ocean Protocol
OCEAN
|
-0.7343811 |
details, prediction |
Synthetix Network Token
SNX
|
-0.72838926 |
details, prediction |
EthLend
LEND
|
-0.66946894 |
details, prediction |
Nexo
NEXO
|
-0.6561027 |
details, prediction |
Third tier
|
Streamr DATAcoin
DATA
|
-0.80042374 |
details, prediction |
BipCoin
BIP
|
-0.79386467 |
details, prediction |
Dock.io
DOCK
|
-0.7918165 |
details, prediction |
Crypterium
CRPT
|
-0.78829426 |
details, prediction |
Tierion
TNT
|
-0.7825961 |
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)