Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.8466872 |
details, prediction |
Binance Coin
BNB
|
0.78782237 |
details, prediction |
KuCoin Shares
KCS
|
0.78255886 |
details, prediction |
ZCash
ZEC
|
0.7460684 |
details, prediction |
Bitcoin
BTC
|
0.7030314 |
details, prediction |
|
Second tier
|
Algorand
ALGO
|
0.771229 |
details, prediction |
Bitcoin Gold
BTG
|
0.73297834 |
details, prediction |
Status
SNT
|
0.71888757 |
details, prediction |
IOTA
IOT
|
0.7110554 |
details, prediction |
Ravencoin
RVN
|
0.70971876 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.76739854 |
details, prediction |
Komodo
KMD
|
0.75224596 |
details, prediction |
Elastos
ELA
|
0.74667627 |
details, prediction |
Internet of Services
IOST
|
0.74370956 |
details, prediction |
Chronobank
TIME
|
0.7408071 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Dogecoin 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 Dogecoin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.03685703 |
details, prediction |
UNUS SED LEO
LEO
|
0.2805216 |
details, prediction |
ChainLink
LINK
|
0.29544267 |
details, prediction |
Crypto.com Chain
CRO
|
0.30265766 |
details, prediction |
Bitcoin Cash
BCH
|
0.57598346 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.35863745 |
details, prediction |
Cosmos
ATOM
|
0.17385468 |
details, prediction |
Vechain
VET
|
0.17970996 |
details, prediction |
USD//Coin
USDC
|
0.19066209 |
details, prediction |
Bitcoin SV
BSV
|
0.20653428 |
details, prediction |
|
Third tier
|
Dent
DENT
|
-0.25045812 |
details, prediction |
Propy
PRO
|
-0.115394644 |
details, prediction |
BABB
BAX
|
-0.081361815 |
details, prediction |
OPEN Platform
OPEN
|
-0.006879489 |
details, prediction |
FunFair
FUN
|
0.13109203 |
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)