Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Monero
XMR
|
0.5801626 |
details, prediction |
KuCoin Shares
KCS
|
0.32481903 |
details, prediction |
Dogecoin
DOGE
|
0.32286206 |
details, prediction |
TRON
TRX
|
0.28661382 |
details, prediction |
EOS
EOS
|
0.2530321 |
details, prediction |
Second tier
|
Metal
MTL
|
0.6926485 |
details, prediction |
Steem
STEEM
|
0.60101336 |
details, prediction |
0x
ZRX
|
0.5713825 |
details, prediction |
Kyber Network
KNC
|
0.48167136 |
details, prediction |
Zilliqa
ZIL
|
0.43634152 |
details, prediction |
Third tier
|
Rialto
XRL
|
0.72338456 |
details, prediction |
DxChain
DX
|
0.7022921 |
details, prediction |
Envion
EVN
|
0.6449148 |
details, prediction |
Quantstamp
QSP
|
0.6148633 |
details, prediction |
Red Pulse Phoenix
PHX
|
0.610172 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Dragon Coin 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 Dragon Coin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Maker
MKR
|
-0.2311147 |
details, prediction |
Cosmos
ATOM
|
-0.19684409 |
details, prediction |
Fantom
FTM
|
-0.12438808 |
details, prediction |
IOTA
IOT
|
-0.10112097 |
details, prediction |
XRP
XRP
|
-0.09115393 |
details, prediction |
Second tier
|
Waves
WAVES
|
-0.24223174 |
details, prediction |
MonaCoin
MONA
|
-0.2317428 |
details, prediction |
True USD
TUSD
|
-0.21326596 |
details, prediction |
Decentraland
MANA
|
-0.19409677 |
details, prediction |
Quant Network
QNT
|
-0.114482075 |
details, prediction |
Third tier
|
AeonCoin
AEON
|
-0.6516596 |
details, prediction |
Tycoon Global
TCT
|
-0.5369506 |
details, prediction |
OKCash
OK
|
-0.47626904 |
details, prediction |
NAGA
NGC
|
-0.46890485 |
details, prediction |
QASH
QASH
|
-0.45320556 |
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)