Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.94695514 |
details, prediction |
Litecoin
LTC
|
0.940629 |
details, prediction |
Bitcoin
BTC
|
0.93373346 |
details, prediction |
Bitcoin Cash
BCH
|
0.92959696 |
details, prediction |
Cardano
ADA
|
0.8984707 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.9568951 |
details, prediction |
Vechain
VET
|
0.9248174 |
details, prediction |
Decentraland
MANA
|
0.9216699 |
details, prediction |
HoloToken
HOT
|
0.917553 |
details, prediction |
Theta Fuel
TFUEL
|
0.9061646 |
details, prediction |
|
Third tier
|
Hydro Protocol
HOT
|
0.9176758 |
details, prediction |
Gas
GAS
|
0.89559513 |
details, prediction |
Bancor
BNT
|
0.8833839 |
details, prediction |
SysCoin
SYS
|
0.8741441 |
details, prediction |
ARK
ARK
|
0.869019 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Decred 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 Decred
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.6197983 |
details, prediction |
TRON
TRX
|
0.13567463 |
details, prediction |
ZCash
ZEC
|
0.183329 |
details, prediction |
Binance Coin
BNB
|
0.6514014 |
details, prediction |
Crypto.com Chain
CRO
|
0.7612119 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.86175966 |
details, prediction |
USD//Coin
USDC
|
-0.8263878 |
details, prediction |
True USD
TUSD
|
-0.45286945 |
details, prediction |
Telcoin
TEL
|
-0.03263831 |
details, prediction |
OriginTrail
TRAC
|
0.109029345 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.18957491 |
details, prediction |
Propy
PRO
|
-0.03461822 |
details, prediction |
V Systems
VSYS
|
0.06868079 |
details, prediction |
BABB
BAX
|
0.30148497 |
details, prediction |
Phantasma
SOUL
|
0.31391278 |
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)