Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9422587 |
details, prediction |
SONM
SNM
|
0.940558 |
details, prediction |
Litecoin
LTC
|
0.9370173 |
details, prediction |
TRON
TRX
|
0.93356603 |
details, prediction |
Bitcoin Cash
BCH
|
0.89685136 |
details, prediction |
|
Second tier
|
Ethos (Bitquence)
BQX
|
0.97900987 |
details, prediction |
QTUM
QTUM
|
0.9783124 |
details, prediction |
FirstBlood
1ST
|
0.97705 |
details, prediction |
OriginTrail
TRAC
|
0.97117096 |
details, prediction |
Digix DAO
DGD
|
0.9690954 |
details, prediction |
|
Third tier
|
XinFin
XDCE
|
0.9819697 |
details, prediction |
Distributed Credit Chain
DCC
|
0.9802048 |
details, prediction |
SingularityNET
AGI
|
0.97965086 |
details, prediction |
Moneytoken
IMT
|
0.97834986 |
details, prediction |
SwftCoin
SWFTC
|
0.9781974 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that BitStation 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 BitStation
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
-0.6955859 |
details, prediction |
Dogecoin
DOGE
|
-0.5328255 |
details, prediction |
Bitcoin
BTC
|
0.08052277 |
details, prediction |
Stellar
XLM
|
0.14991146 |
details, prediction |
Monero
XMR
|
0.68165344 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
-0.7012762 |
details, prediction |
Vechain
VET
|
-0.37754977 |
details, prediction |
True USD
TUSD
|
-0.27830514 |
details, prediction |
Dai
DAI
|
0.016954174 |
details, prediction |
Nano
NANO
|
0.2701587 |
details, prediction |
|
Third tier
|
Metaverse
ETP
|
-0.9371639 |
details, prediction |
Vitae
VITAE
|
-0.8129649 |
details, prediction |
BHPCash
BHPC
|
-0.64468277 |
details, prediction |
Speed Mining Service
SMS
|
-0.5956488 |
details, prediction |
NIX
NIX
|
-0.53991616 |
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)