Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Dogecoin
DOGE
|
0.89414054 |
details, prediction |
Binance Coin
BNB
|
0.8557146 |
details, prediction |
KuCoin Shares
KCS
|
0.8532692 |
details, prediction |
Bitcoin SV
BSV
|
0.85014987 |
details, prediction |
Litecoin
LTC
|
0.8354688 |
details, prediction |
Second tier
|
Gas
GAS
|
0.907552 |
details, prediction |
Decred
DCR
|
0.8788122 |
details, prediction |
Power Ledger
POWR
|
0.86953217 |
details, prediction |
Theta Fuel
TFUEL
|
0.8604622 |
details, prediction |
Utrust
UTK
|
0.8556921 |
details, prediction |
Third tier
|
Odyssey
OCN
|
0.9193262 |
details, prediction |
Primas
PST
|
0.9105885 |
details, prediction |
Ignis
IGNIS
|
0.9105196 |
details, prediction |
Bibox Token
BIX
|
0.9098471 |
details, prediction |
XMAX
XMX
|
0.8985176 |
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
|
TRON
TRX
|
-0.3840567 |
details, prediction |
Waves
WAVES
|
0.31072202 |
details, prediction |
ZCash
ZEC
|
0.3637375 |
details, prediction |
Monero
XMR
|
0.38467386 |
details, prediction |
Ethereum Classic
ETC
|
0.49810967 |
details, prediction |
Second tier
|
Dai
DAI
|
-0.8644264 |
details, prediction |
True USD
TUSD
|
-0.81905603 |
details, prediction |
USD//Coin
USDC
|
-0.8117731 |
details, prediction |
EthLend
LEND
|
-0.6138504 |
details, prediction |
Paxos Standard
PAX
|
-0.57848674 |
details, prediction |
Third tier
|
SunContract
SNC
|
-0.8561568 |
details, prediction |
ILCoin
ILC
|
-0.8121783 |
details, prediction |
Time New Bank
TNB
|
-0.7004748 |
details, prediction |
Crypviser
CVCOIN
|
-0.6804433 |
details, prediction |
FeatherCoin
FTC
|
-0.6607821 |
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)