Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
0.777661 |
details, prediction |
Litecoin
LTC
|
0.7684005 |
details, prediction |
ChainLink
LINK
|
0.70429385 |
details, prediction |
Bitcoin
BTC
|
0.6945813 |
details, prediction |
Dogecoin
DOGE
|
0.6935547 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
0.9053907 |
details, prediction |
HoloToken
HOT
|
0.8417658 |
details, prediction |
Verge
XVG
|
0.82217354 |
details, prediction |
Ardor
ARDR
|
0.81814206 |
details, prediction |
Digix DAO
DGD
|
0.80095166 |
details, prediction |
|
Third tier
|
DAEX
DAX
|
0.96195096 |
details, prediction |
SyncFab
MFG
|
0.9599552 |
details, prediction |
Colu Local Network
CLN
|
0.958935 |
details, prediction |
PCHAIN
PAI
|
0.9557446 |
details, prediction |
EximChain
EXC
|
0.95314986 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that BitGem 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 BitGem
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Binance Coin
BNB
|
-0.32018802 |
details, prediction |
SONM
SNM
|
0.2796518 |
details, prediction |
Ethereum
ETH
|
0.3671025 |
details, prediction |
TRON
TRX
|
0.36843306 |
details, prediction |
Bitcoin Cash
BCH
|
0.39546642 |
details, prediction |
|
Second tier
|
Huobi Token
HT
|
-0.5589063 |
details, prediction |
Theta
THETA
|
-0.17825663 |
details, prediction |
Decred
DCR
|
-0.1462115 |
details, prediction |
Tezos
XTZ
|
-0.113633476 |
details, prediction |
True USD
TUSD
|
0.032480605 |
details, prediction |
|
Third tier
|
Docademic
MTC
|
-0.8713156 |
details, prediction |
ODEM
ODEM
|
-0.71954465 |
details, prediction |
WeAreSatoshi
WSX
|
-0.6708443 |
details, prediction |
Bibox Token
BIX
|
-0.5479836 |
details, prediction |
Trade Token
TIO
|
-0.48749483 |
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)