Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
NEO
NEO
|
0.9496674 |
details, prediction |
IOTA
IOT
|
0.94403785 |
details, prediction |
Ethereum
ETH
|
0.9422587 |
details, prediction |
SONM
SNM
|
0.940558 |
details, prediction |
Litecoin
LTC
|
0.9370173 |
details, prediction |
Second tier
|
Ethos (Bitquence)
BQX
|
0.97900987 |
details, prediction |
QTUM
QTUM
|
0.9783124 |
details, prediction |
Loopring
LRC
|
0.9779124 |
details, prediction |
FirstBlood
1ST
|
0.97705 |
details, prediction |
OmiseGo
OMG
|
0.9751083 |
details, prediction |
Third tier
|
XinFin
XDCE
|
0.9819697 |
details, prediction |
Distributed Credit Chain
DCC
|
0.9802048 |
details, prediction |
Moneytoken
IMT
|
0.97834986 |
details, prediction |
SwftCoin
SWFTC
|
0.9781974 |
details, prediction |
Trade Token
TIO
|
0.9770964 |
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 |
Vechain
VET
|
-0.37754977 |
details, prediction |
Bitcoin
BTC
|
0.08052277 |
details, prediction |
Stellar
XLM
|
0.14991146 |
details, prediction |
Second tier
|
HoloToken
HOT
|
-0.7012762 |
details, prediction |
True USD
TUSD
|
-0.27830514 |
details, prediction |
Dai
DAI
|
0.016954174 |
details, prediction |
Nano
NANO
|
0.2701587 |
details, prediction |
Horizen
ZEN
|
0.29956892 |
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)