Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Tezos
XTZ
|
0.9415655 |
details, prediction |
Stellar
XLM
|
0.92822367 |
details, prediction |
Bitcoin SV
BSV
|
0.8296786 |
details, prediction |
Maker
MKR
|
0.766461 |
details, prediction |
XRP
XRP
|
0.76196903 |
details, prediction |
Second tier
|
Nexo
NEXO
|
0.93196905 |
details, prediction |
Horizen
ZEN
|
0.9258515 |
details, prediction |
IOTA
IOT
|
0.9206412 |
details, prediction |
Power Ledger
POWR
|
0.91583794 |
details, prediction |
Waves
WAVES
|
0.8577587 |
details, prediction |
Third tier
|
Kcash
KCASH
|
0.9175406 |
details, prediction |
Seele
SEELE
|
0.8821424 |
details, prediction |
Nucleus Vision
NCASH
|
0.8768669 |
details, prediction |
Time New Bank
TNB
|
0.8616186 |
details, prediction |
QASH
QASH
|
0.85739964 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Huobi Token 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 Huobi Token
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Dogecoin
DOGE
|
-0.9439234 |
details, prediction |
Binance Coin
BNB
|
-0.8766306 |
details, prediction |
Theta
THETA
|
-0.8707982 |
details, prediction |
Chiliz
CHZ
|
-0.81807005 |
details, prediction |
Litecoin
LTC
|
-0.70292705 |
details, prediction |
Second tier
|
Telcoin
TEL
|
-0.92353743 |
details, prediction |
Loopring
LRC
|
-0.7604741 |
details, prediction |
Ocean Protocol
OCEAN
|
-0.6582144 |
details, prediction |
OriginTrail
TRAC
|
-0.6279825 |
details, prediction |
Enjin Coin
ENJ
|
-0.55239844 |
details, prediction |
Third tier
|
Cortex
CTXC
|
-0.6828703 |
details, prediction |
DeepBrain Chain
DBC
|
-0.5781141 |
details, prediction |
Gemini Dollar
GUSD
|
-0.4489111 |
details, prediction |
Crypterium
CRPT
|
-0.40268812 |
details, prediction |
Dero
DERO
|
-0.35924664 |
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)