Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Theta
THETA
|
0.14606915 |
details, prediction |
UNUS SED LEO
LEO
|
0.119798586 |
details, prediction |
XRP
XRP
|
0.11590639 |
details, prediction |
ChainLink
LINK
|
0.086931884 |
details, prediction |
Fantom
FTM
|
0.080551915 |
details, prediction |
Second tier
|
Stox
STX
|
0.27240986 |
details, prediction |
Republic protocol
REN
|
0.12372734 |
details, prediction |
Decentraland
MANA
|
0.10382378 |
details, prediction |
Telcoin
TEL
|
0.10376648 |
details, prediction |
Metadium
META
|
0.088225946 |
details, prediction |
Third tier
|
Bittwatt
BWT
|
0.8403191 |
details, prediction |
SyncFab
MFG
|
0.7533208 |
details, prediction |
Credit Tag Chain
CTC
|
0.6301138 |
details, prediction |
Blue Whale
BWX
|
0.5025549 |
details, prediction |
DubaiCoin
DBIX
|
0.45711654 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Cobinhood 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 Cobinhood
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Vechain
VET
|
-0.23561029 |
details, prediction |
USD//Coin
USDC
|
-0.22127928 |
details, prediction |
NEO
NEO
|
-0.20260477 |
details, prediction |
Maker
MKR
|
-0.14290777 |
details, prediction |
Cosmos
ATOM
|
-0.11622787 |
details, prediction |
Second tier
|
SwissBorg
CHSB
|
-0.29599825 |
details, prediction |
Storj
STORJ
|
-0.28963807 |
details, prediction |
Paxos Standard
PAX
|
-0.23346914 |
details, prediction |
FTX Token
FTT
|
-0.20236313 |
details, prediction |
Ontology
ONT
|
-0.19931148 |
details, prediction |
Third tier
|
GAPS
GAP
|
-0.56298286 |
details, prediction |
CryptoPay
CPAY
|
-0.34079906 |
details, prediction |
Numerai
NMR
|
-0.32611182 |
details, prediction |
AventCoin
AVT
|
-0.2974466 |
details, prediction |
ALISmedia
ALIS
|
-0.29527828 |
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)