Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.600922 |
details, prediction |
Ethereum Classic
ETC
|
0.5327902 |
details, prediction |
Monero
XMR
|
0.5260728 |
details, prediction |
Dogecoin
DOGE
|
0.51897126 |
details, prediction |
Bitcoin
BTC
|
0.48307458 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.6301918 |
details, prediction |
Cosmos
ATOM
|
0.6248412 |
details, prediction |
IOTA
IOT
|
0.51841754 |
details, prediction |
Synthetix Network Token
SNX
|
0.4724698 |
details, prediction |
Telcoin
TEL
|
0.46982723 |
details, prediction |
|
Third tier
|
Chronobank
TIME
|
0.7035389 |
details, prediction |
Bancor
BNT
|
0.66027385 |
details, prediction |
Stox
STX
|
0.63390386 |
details, prediction |
Komodo
KMD
|
0.5134841 |
details, prediction |
Storj
STORJ
|
0.46007237 |
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
|
Bitcoin Cash
BCH
|
0.041900437 |
details, prediction |
UNUS SED LEO
LEO
|
0.1369538 |
details, prediction |
Stellar
XLM
|
0.22114149 |
details, prediction |
Ethereum
ETH
|
0.22770752 |
details, prediction |
TRON
TRX
|
0.24320243 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.31817803 |
details, prediction |
True USD
TUSD
|
-0.26342273 |
details, prediction |
Dai
DAI
|
-0.20414469 |
details, prediction |
Ardor
ARDR
|
-0.08899672 |
details, prediction |
Verge
XVG
|
-0.004925112 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.38214022 |
details, prediction |
NKN
NKN
|
-0.21918322 |
details, prediction |
BABB
BAX
|
-0.16122955 |
details, prediction |
SysCoin
SYS
|
-0.15182078 |
details, prediction |
Phantasma
SOUL
|
-0.15058629 |
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)