Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.863723 |
details, prediction |
Dogecoin
DOGE
|
0.824939 |
details, prediction |
XRP
XRP
|
0.7940077 |
details, prediction |
Bitcoin Cash
BCH
|
0.7768302 |
details, prediction |
KuCoin Shares
KCS
|
0.6617961 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.89214545 |
details, prediction |
Telcoin
TEL
|
0.8863299 |
details, prediction |
Siacoin
SC
|
0.8848044 |
details, prediction |
Waves
WAVES
|
0.8842525 |
details, prediction |
Status
SNT
|
0.87740725 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.8898085 |
details, prediction |
PIVX
PIVX
|
0.8802911 |
details, prediction |
Ontology
ONT
|
0.8788692 |
details, prediction |
Civic
CVC
|
0.8737638 |
details, prediction |
Elastos
ELA
|
0.87022275 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Electroneum 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 Electroneum
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.17551506 |
details, prediction |
Monero
XMR
|
0.16339596 |
details, prediction |
TRON
TRX
|
0.2162286 |
details, prediction |
ZCash
ZEC
|
0.25684515 |
details, prediction |
Ethereum
ETH
|
0.3869729 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.80677444 |
details, prediction |
USD//Coin
USDC
|
-0.58279437 |
details, prediction |
DigiByte
DGB
|
-0.335519 |
details, prediction |
True USD
TUSD
|
-0.10184001 |
details, prediction |
Decred
DCR
|
0.45099425 |
details, prediction |
|
Third tier
|
Phantasma
SOUL
|
-0.22300285 |
details, prediction |
Propy
PRO
|
-0.21571657 |
details, prediction |
V Systems
VSYS
|
-0.12884246 |
details, prediction |
OPEN Platform
OPEN
|
0.02822503 |
details, prediction |
NKN
NKN
|
0.07970513 |
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)