Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
0.74193823 |
details, prediction |
Dogecoin
DOGE
|
0.73294073 |
details, prediction |
XRP
XRP
|
0.7224998 |
details, prediction |
Bitcoin
BTC
|
0.6087271 |
details, prediction |
Ethereum
ETH
|
0.5683017 |
details, prediction |
|
Second tier
|
EOS
EOS
|
0.5574683 |
details, prediction |
DigiByte
DGB
|
0.51654214 |
details, prediction |
Tezos
XTZ
|
0.29024583 |
details, prediction |
NEO
NEO
|
0.28196898 |
details, prediction |
Dai
DAI
|
0.26487947 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
0.7133069 |
details, prediction |
Komodo
KMD
|
0.6113788 |
details, prediction |
Kleros
PNK
|
0.5703255 |
details, prediction |
Elastos
ELA
|
0.45714286 |
details, prediction |
Dero
DERO
|
0.4250847 |
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
|
-0.17730558 |
details, prediction |
Bitcoin Cash
BCH
|
-0.030810954 |
details, prediction |
KuCoin Shares
KCS
|
0.26575288 |
details, prediction |
Cardano
ADA
|
0.28932407 |
details, prediction |
|
Second tier
|
OriginTrail
TRAC
|
-0.4790668 |
details, prediction |
Telcoin
TEL
|
-0.31991193 |
details, prediction |
Cosmos
ATOM
|
-0.31141296 |
details, prediction |
USD//Coin
USDC
|
-0.30997747 |
details, prediction |
Theta
THETA
|
-0.30758184 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.7049139 |
details, prediction |
Stox
STX
|
-0.39545825 |
details, prediction |
Propy
PRO
|
-0.39139298 |
details, prediction |
BOScoin
BOS
|
-0.3412898 |
details, prediction |
Chronobank
TIME
|
-0.33015203 |
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)