Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Vechain
VET
|
0.87727267 |
details, prediction |
Dogecoin
DOGE
|
0.86912614 |
details, prediction |
NEO
NEO
|
0.8555189 |
details, prediction |
Monero
XMR
|
0.85493976 |
details, prediction |
Bitcoin
BTC
|
0.8539015 |
details, prediction |
Second tier
|
DigiByte
DGB
|
0.90284675 |
details, prediction |
0x
ZRX
|
0.89867723 |
details, prediction |
Ardor
ARDR
|
0.88536507 |
details, prediction |
ICON
ICX
|
0.8828359 |
details, prediction |
Kyber Network
KNC
|
0.881558 |
details, prediction |
Third tier
|
Adshares
ADST
|
0.92178553 |
details, prediction |
BitKan
KAN
|
0.9152716 |
details, prediction |
PrimeCoin
XPM
|
0.9065812 |
details, prediction |
Vexanium
VEX
|
0.9055973 |
details, prediction |
DAPS Token
DAPS
|
0.90412027 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that FlypMe 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 FlypMe
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
USD//Coin
USDC
|
-0.033101078 |
details, prediction |
Bitcoin SV
BSV
|
0.15436137 |
details, prediction |
TRON
TRX
|
0.29909417 |
details, prediction |
ChainLink
LINK
|
0.37695077 |
details, prediction |
Fantom
FTM
|
0.6278864 |
details, prediction |
Second tier
|
Waves
WAVES
|
-0.44307593 |
details, prediction |
XYO Network
XYO
|
-0.35248706 |
details, prediction |
Dai
DAI
|
-0.2515962 |
details, prediction |
Paxos Standard
PAX
|
-0.067263335 |
details, prediction |
True USD
TUSD
|
-0.063376345 |
details, prediction |
Third tier
|
Chainium
CHX
|
-0.66443443 |
details, prediction |
Dreamscape
DSC
|
-0.6439547 |
details, prediction |
Envion
EVN
|
-0.5579776 |
details, prediction |
CWV Chain
CWV
|
-0.5515002 |
details, prediction |
Factom
FCT
|
-0.54543173 |
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)