Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
IOTA
IOT
|
0.46730554 |
details, prediction |
Chiliz
CHZ
|
0.44883552 |
details, prediction |
Fantom
FTM
|
0.41210344 |
details, prediction |
Matic Network
MATIC
|
0.39508033 |
details, prediction |
Cosmos
ATOM
|
0.3831252 |
details, prediction |
Second tier
|
HedgeTrade
HEDG
|
0.5066689 |
details, prediction |
MonaCoin
MONA
|
0.5042675 |
details, prediction |
Power Ledger
POWR
|
0.48887184 |
details, prediction |
Dai
DAI
|
0.48766953 |
details, prediction |
ARK
ARK
|
0.48757076 |
details, prediction |
Third tier
|
Grid+
GRID
|
0.9041558 |
details, prediction |
Napoleon X
NPX
|
0.6382575 |
details, prediction |
Synereo
AMP
|
0.62310475 |
details, prediction |
Golos
GOLOS
|
0.6007793 |
details, prediction |
StealthCoin
XST
|
0.59792244 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that EcoBit 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 EcoBit
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
KuCoin Shares
KCS
|
0.079578094 |
details, prediction |
UNUS SED LEO
LEO
|
0.08163441 |
details, prediction |
Stellar
XLM
|
0.17083992 |
details, prediction |
Maker
MKR
|
0.20643903 |
details, prediction |
Cardano
ADA
|
0.21348672 |
details, prediction |
Second tier
|
True USD
TUSD
|
-0.30768123 |
details, prediction |
Paxos Standard
PAX
|
-0.2175133 |
details, prediction |
BORA
BORA
|
-0.17511827 |
details, prediction |
Stox
STX
|
-0.0013234228 |
details, prediction |
Metadium
META
|
0.017639877 |
details, prediction |
Third tier
|
Tycoon Global
TCT
|
-0.39714602 |
details, prediction |
Bitcoin Private
BTCP
|
-0.25876966 |
details, prediction |
Neumarks
NEU
|
-0.14102007 |
details, prediction |
Tierion
TNT
|
-0.11928753 |
details, prediction |
Fusion
FSN
|
-0.11674243 |
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)