Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.9305367 |
details, prediction |
Ethereum Classic
ETC
|
0.8549449 |
details, prediction |
Litecoin
LTC
|
0.8368704 |
details, prediction |
Fantom
FTM
|
0.827311 |
details, prediction |
Ethereum
ETH
|
0.8030227 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.8806711 |
details, prediction |
Huobi Token
HT
|
0.87099636 |
details, prediction |
Telcoin
TEL
|
0.86625004 |
details, prediction |
Nano
NANO
|
0.86471653 |
details, prediction |
DigiByte
DGB
|
0.8614534 |
details, prediction |
|
Third tier
|
Dether
DTH
|
0.96604764 |
details, prediction |
FedoraCoin
TIPS
|
0.9535048 |
details, prediction |
RChain
RHOC
|
0.95169926 |
details, prediction |
EarthCoin
EAC
|
0.94476503 |
details, prediction |
Blue Whale
BWX
|
0.94077224 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Biocoin 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 Biocoin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
-0.029124321 |
details, prediction |
Maker
MKR
|
0.24051589 |
details, prediction |
XRP
XRP
|
0.44511518 |
details, prediction |
SONM
SNM
|
0.60386133 |
details, prediction |
Stellar
XLM
|
0.61943156 |
details, prediction |
|
Second tier
|
Paxos Standard
PAX
|
-0.47719863 |
details, prediction |
Dai
DAI
|
-0.4303853 |
details, prediction |
True USD
TUSD
|
-0.37521943 |
details, prediction |
XYO Network
XYO
|
-0.37186727 |
details, prediction |
Nexo
NEXO
|
-0.33998424 |
details, prediction |
|
Third tier
|
Tycoon Global
TCT
|
-0.89927375 |
details, prediction |
Chainium
CHX
|
-0.8516149 |
details, prediction |
BitcoinDark
BTCD
|
-0.7377438 |
details, prediction |
CWV Chain
CWV
|
-0.71898663 |
details, prediction |
Darico
DEC
|
-0.7178698 |
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)