Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.76653874 |
details, prediction |
ChainLink
LINK
|
0.7454765 |
details, prediction |
Monero
XMR
|
0.74050033 |
details, prediction |
Cardano
ADA
|
0.6910401 |
details, prediction |
Bitcoin
BTC
|
0.68523854 |
details, prediction |
|
Second tier
|
Decred
DCR
|
0.7351337 |
details, prediction |
Bitcoin SV
BSV
|
0.60878736 |
details, prediction |
HoloToken
HOT
|
0.5164924 |
details, prediction |
Vechain
VET
|
0.50981736 |
details, prediction |
QTUM
QTUM
|
0.4749085 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
0.77204126 |
details, prediction |
Bancor
BNT
|
0.6331099 |
details, prediction |
Dent
DENT
|
0.59448415 |
details, prediction |
Hydro Protocol
HOT
|
0.54229295 |
details, prediction |
Achain
ACT
|
0.52490467 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that DigiByte 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 DigiByte
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.38868037 |
details, prediction |
KuCoin Shares
KCS
|
-0.18896675 |
details, prediction |
Ethereum Classic
ETC
|
0.15923552 |
details, prediction |
Dogecoin
DOGE
|
0.32549804 |
details, prediction |
TRON
TRX
|
0.3710385 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
-0.84933513 |
details, prediction |
Chiliz
CHZ
|
-0.79959977 |
details, prediction |
Waves
WAVES
|
-0.7087766 |
details, prediction |
Basic Attention Token
BAT
|
-0.69111145 |
details, prediction |
Ravencoin
RVN
|
-0.672421 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
-0.82613707 |
details, prediction |
PIVX
PIVX
|
-0.7831045 |
details, prediction |
ICON
ICX
|
-0.7664205 |
details, prediction |
Matrix AI Network
MAN
|
-0.69174886 |
details, prediction |
Enjin Coin
ENJ
|
-0.691747 |
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)