Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.923751 |
details, prediction |
KuCoin Shares
KCS
|
0.8482051 |
details, prediction |
Dogecoin
DOGE
|
0.8072159 |
details, prediction |
Cardano
ADA
|
0.80163074 |
details, prediction |
XRP
XRP
|
0.7446963 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.9661152 |
details, prediction |
Request Network
REQ
|
0.9564031 |
details, prediction |
Waves
WAVES
|
0.95367384 |
details, prediction |
Theta Fuel
TFUEL
|
0.9441357 |
details, prediction |
Siacoin
SC
|
0.9331282 |
details, prediction |
|
Third tier
|
Komodo
KMD
|
0.951906 |
details, prediction |
IoTeX
IOTX
|
0.94450325 |
details, prediction |
Loopring
LRC
|
0.9409795 |
details, prediction |
Chronobank
TIME
|
0.9259829 |
details, prediction |
SysCoin
SYS
|
0.9257122 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Elastos 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 Elastos
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.6861057 |
details, prediction |
UNUS SED LEO
LEO
|
-0.115466766 |
details, prediction |
ZCash
ZEC
|
0.2033148 |
details, prediction |
Ethereum
ETH
|
0.41221076 |
details, prediction |
ChainLink
LINK
|
0.45369953 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.32156488 |
details, prediction |
Dai
DAI
|
-0.0065637655 |
details, prediction |
Nexo
NEXO
|
0.09649697 |
details, prediction |
Algorand
ALGO
|
0.16857016 |
details, prediction |
True USD
TUSD
|
0.3556319 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.5440854 |
details, prediction |
OPEN Platform
OPEN
|
-0.31581166 |
details, prediction |
Enjin Coin
ENJ
|
-0.19822459 |
details, prediction |
Dent
DENT
|
-0.13063924 |
details, prediction |
Propy
PRO
|
0.080108896 |
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)