Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.66589016 |
details, prediction |
XRP
XRP
|
0.5637347 |
details, prediction |
TRON
TRX
|
0.5523499 |
details, prediction |
Bitcoin
BTC
|
0.27204037 |
details, prediction |
KuCoin Shares
KCS
|
0.26575288 |
details, prediction |
|
Second tier
|
Dai
DAI
|
0.46268317 |
details, prediction |
Verge
XVG
|
0.14764743 |
details, prediction |
True USD
TUSD
|
0.069281064 |
details, prediction |
DigiByte
DGB
|
0.022109726 |
details, prediction |
XYO Network
XYO
|
-0.08450845 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
0.7133069 |
details, prediction |
Dero
DERO
|
0.47928268 |
details, prediction |
Komodo
KMD
|
0.39940056 |
details, prediction |
Elastos
ELA
|
0.27847824 |
details, prediction |
Ontology
ONT
|
0.10890855 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Binance Coin 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 Binance Coin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
-0.6473237 |
details, prediction |
ChainLink
LINK
|
-0.5788499 |
details, prediction |
Ethereum Classic
ETC
|
-0.15662691 |
details, prediction |
Monero
XMR
|
-0.14640921 |
details, prediction |
Bitcoin Cash
BCH
|
-0.12240092 |
details, prediction |
|
Second tier
|
Theta
THETA
|
-0.7241131 |
details, prediction |
Bitcoin SV
BSV
|
-0.71288407 |
details, prediction |
USD//Coin
USDC
|
-0.7032779 |
details, prediction |
Cosmos
ATOM
|
-0.6635107 |
details, prediction |
Vechain
VET
|
-0.65499157 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.7049139 |
details, prediction |
NEM
XEM
|
-0.5337051 |
details, prediction |
Electroneum
ETN
|
-0.47577882 |
details, prediction |
AdEx
ADX
|
-0.45663393 |
details, prediction |
V Systems
VSYS
|
-0.4357614 |
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)