Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.63684505 |
details, prediction |
Cardano
ADA
|
0.50810695 |
details, prediction |
Monero
XMR
|
0.49071282 |
details, prediction |
Stellar
XLM
|
0.48094937 |
details, prediction |
Bitcoin
BTC
|
0.47593117 |
details, prediction |
|
Second tier
|
Algorand
ALGO
|
0.8807388 |
details, prediction |
Verge
XVG
|
0.8290758 |
details, prediction |
Waves
WAVES
|
0.77654713 |
details, prediction |
Ravencoin
RVN
|
0.76007706 |
details, prediction |
OriginTrail
TRAC
|
0.75325453 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
0.8814551 |
details, prediction |
SysCoin
SYS
|
0.8644316 |
details, prediction |
Wanchain
WAN
|
0.86414516 |
details, prediction |
Chronobank
TIME
|
0.80349034 |
details, prediction |
Enjin Coin
ENJ
|
0.78340626 |
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
|
Binance Coin
BNB
|
0.022109726 |
details, prediction |
TRON
TRX
|
0.14523828 |
details, prediction |
ChainLink
LINK
|
0.28222173 |
details, prediction |
Crypto.com Chain
CRO
|
0.3061664 |
details, prediction |
XRP
XRP
|
0.31068727 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.23319921 |
details, prediction |
Ardor
ARDR
|
0.11419309 |
details, prediction |
Dai
DAI
|
0.15315042 |
details, prediction |
USD//Coin
USDC
|
0.19827811 |
details, prediction |
Cosmos
ATOM
|
0.24841881 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
-0.05726765 |
details, prediction |
BOScoin
BOS
|
0.16292797 |
details, prediction |
HEROcoin
PLAY
|
0.18559797 |
details, prediction |
NEM
XEM
|
0.27290228 |
details, prediction |
OPEN Platform
OPEN
|
0.35717875 |
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)