Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Stellar
XLM
|
0.8269904 |
details, prediction |
Cardano
ADA
|
0.8246637 |
details, prediction |
Vechain
VET
|
0.8095343 |
details, prediction |
DASH
DASH
|
0.78489363 |
details, prediction |
Ethereum
ETH
|
0.7664472 |
details, prediction |
Second tier
|
Horizen
ZEN
|
0.8438214 |
details, prediction |
Verge
XVG
|
0.8404563 |
details, prediction |
Nano
NANO
|
0.83219326 |
details, prediction |
Status
SNT
|
0.8154766 |
details, prediction |
Ardor
ARDR
|
0.80806637 |
details, prediction |
Third tier
|
Einsteinium
EMC2
|
0.8136192 |
details, prediction |
Crypto20
C20
|
0.7932288 |
details, prediction |
Blockport
BPT
|
0.79282117 |
details, prediction |
Gulden
NLG
|
0.78770673 |
details, prediction |
Metal
MTL
|
0.786971 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ByteCoin 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 ByteCoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Crypto.com Chain
CRO
|
-0.55212206 |
details, prediction |
Huobi Token
HT
|
0.020269455 |
details, prediction |
NEO
NEO
|
0.1478908 |
details, prediction |
Maker
MKR
|
0.37062457 |
details, prediction |
Tezos
XTZ
|
0.38596228 |
details, prediction |
Second tier
|
KuCoin Shares
KCS
|
-0.57300186 |
details, prediction |
HedgeTrade
HEDG
|
-0.52435875 |
details, prediction |
Centrality
CENNZ
|
-0.5156427 |
details, prediction |
GlitzKoin
GTN
|
-0.35687122 |
details, prediction |
CyberVein
CVT
|
-0.27025932 |
details, prediction |
Third tier
|
FlorinCoin
FLO
|
-0.74391294 |
details, prediction |
ODEM
ODEM
|
-0.7370013 |
details, prediction |
TE-FOOD
TFD
|
-0.71741724 |
details, prediction |
Wings DAO
WINGS
|
-0.68637437 |
details, prediction |
PolySwarm
NCT
|
-0.6797014 |
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)