Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
ChainLink
LINK
|
0.8190125 |
details, prediction |
Ethereum
ETH
|
0.79524004 |
details, prediction |
Maker
MKR
|
0.7371137 |
details, prediction |
Tezos
XTZ
|
0.705516 |
details, prediction |
Stellar
XLM
|
0.6976639 |
details, prediction |
Second tier
|
WaykiChain
WICC
|
0.8249777 |
details, prediction |
Digix DAO
DGD
|
0.8039516 |
details, prediction |
Gnosis
GNO
|
0.7970927 |
details, prediction |
Loopring
LRC
|
0.7812409 |
details, prediction |
Synthetix Network Token
SNX
|
0.7790616 |
details, prediction |
Third tier
|
Hedge Token
HDG
|
0.9553911 |
details, prediction |
indaHash
IDH
|
0.89070445 |
details, prediction |
0chain
ZCN
|
0.85361195 |
details, prediction |
Veritaseum
VERI
|
0.8345127 |
details, prediction |
CoinMeet
MEE
|
0.8268455 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that HedgeTrade 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 HedgeTrade
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
XRP
XRP
|
-0.062116515 |
details, prediction |
UNUS SED LEO
LEO
|
0.25063527 |
details, prediction |
NEM
XEM
|
0.2994493 |
details, prediction |
Decred
DCR
|
0.313729 |
details, prediction |
Crypto.com Chain
CRO
|
0.32884565 |
details, prediction |
Second tier
|
DxChain
DX
|
-0.5943969 |
details, prediction |
GlitzKoin
GTN
|
-0.42520472 |
details, prediction |
Dai
DAI
|
-0.28127903 |
details, prediction |
CyberVein
CVT
|
-0.2696081 |
details, prediction |
True USD
TUSD
|
0.0017854015 |
details, prediction |
Third tier
|
Bitbook Gambling
BXK
|
-0.84198225 |
details, prediction |
Enigma
ENG
|
-0.77919 |
details, prediction |
B2B
B2B
|
-0.6908375 |
details, prediction |
Faceter
FACE
|
-0.658725 |
details, prediction |
Airbloc
ABL
|
-0.64999706 |
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)