Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.59554416 |
details, prediction |
ChainLink
LINK
|
0.55686533 |
details, prediction |
Ethereum
ETH
|
0.49028406 |
details, prediction |
Monero
XMR
|
0.44002336 |
details, prediction |
Dogecoin
DOGE
|
0.4209582 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.9892136 |
details, prediction |
0x
ZRX
|
0.70622283 |
details, prediction |
Cosmos
ATOM
|
0.66926146 |
details, prediction |
Theta
THETA
|
0.62752235 |
details, prediction |
Chiliz
CHZ
|
0.47135058 |
details, prediction |
|
Third tier
|
Kambria
KAT
|
0.69988436 |
details, prediction |
OPEN Platform
OPEN
|
0.6043427 |
details, prediction |
Bancor
BNT
|
0.5846543 |
details, prediction |
HEROcoin
PLAY
|
0.47872436 |
details, prediction |
Metal
MTL
|
0.46263453 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Hydro Protocol 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 Hydro Protocol
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.049777217 |
details, prediction |
Bitcoin Cash
BCH
|
0.07089852 |
details, prediction |
Cardano
ADA
|
0.20340705 |
details, prediction |
Crypto.com Chain
CRO
|
0.2055378 |
details, prediction |
Ethereum Classic
ETC
|
0.21616413 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.6024267 |
details, prediction |
USD//Coin
USDC
|
-0.41561177 |
details, prediction |
Verge
XVG
|
-0.32273296 |
details, prediction |
True USD
TUSD
|
-0.112543784 |
details, prediction |
Decred
DCR
|
-0.05262567 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.4242597 |
details, prediction |
Dent
DENT
|
-0.36559382 |
details, prediction |
Ontology
ONT
|
-0.2780096 |
details, prediction |
Dero
DERO
|
-0.26248 |
details, prediction |
NKN
NKN
|
-0.24096896 |
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)