Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
KuCoin Shares
KCS
|
0.6766601 |
details, prediction |
Binance Coin
BNB
|
0.65478146 |
details, prediction |
Bitcoin Cash
BCH
|
0.6523386 |
details, prediction |
Ethereum Classic
ETC
|
0.6490487 |
details, prediction |
XRP
XRP
|
0.63811815 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.77764356 |
details, prediction |
FTX Token
FTT
|
0.7235805 |
details, prediction |
iEx.ec
RLC
|
0.715572 |
details, prediction |
Bitcoin Gold
BTG
|
0.70623434 |
details, prediction |
Basic Attention Token
BAT
|
0.6973744 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.735803 |
details, prediction |
Phantasma
SOUL
|
0.73035693 |
details, prediction |
Kyber Network
KNC
|
0.71648306 |
details, prediction |
SingularityNET
AGI
|
0.7025895 |
details, prediction |
Internet of Services
IOST
|
0.67837155 |
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
|
TRON
TRX
|
-0.25196522 |
details, prediction |
ZCash
ZEC
|
0.095003694 |
details, prediction |
Ethereum
ETH
|
0.36070994 |
details, prediction |
Bitcoin
BTC
|
0.37139353 |
details, prediction |
Crypto.com Chain
CRO
|
0.4218179 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
-0.45589504 |
details, prediction |
Decred
DCR
|
-0.44050622 |
details, prediction |
Bitcoin SV
BSV
|
0.06520839 |
details, prediction |
Algorand
ALGO
|
0.10356846 |
details, prediction |
Verge
XVG
|
0.17481764 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.43424228 |
details, prediction |
Dent
DENT
|
-0.25224057 |
details, prediction |
Ontology
ONT
|
-0.17458503 |
details, prediction |
BABB
BAX
|
-0.16660918 |
details, prediction |
Steem
STEEM
|
-0.10159077 |
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)