Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.97637606 |
details, prediction |
Ethereum Classic
ETC
|
0.9691793 |
details, prediction |
Stellar
XLM
|
0.962508 |
details, prediction |
Litecoin
LTC
|
0.9562922 |
details, prediction |
ZCash
ZEC
|
0.9163163 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
0.9687198 |
details, prediction |
NEO
NEO
|
0.96744865 |
details, prediction |
Loopring
LRC
|
0.9667928 |
details, prediction |
DASH
DASH
|
0.96505064 |
details, prediction |
Horizen
ZEN
|
0.9595513 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.9712667 |
details, prediction |
ICON
ICX
|
0.97114176 |
details, prediction |
IoTeX
IOTX
|
0.9710285 |
details, prediction |
Kleros
PNK
|
0.96729153 |
details, prediction |
Dent
DENT
|
0.9640741 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that IOTA 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 IOTA
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.46883753 |
details, prediction |
Binance Coin
BNB
|
0.23513933 |
details, prediction |
Dogecoin
DOGE
|
0.47127938 |
details, prediction |
XRP
XRP
|
0.6516444 |
details, prediction |
UNUS SED LEO
LEO
|
0.6738803 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.58104265 |
details, prediction |
True USD
TUSD
|
-0.34580925 |
details, prediction |
Decred
DCR
|
0.034984246 |
details, prediction |
Zilliqa
ZIL
|
0.21709031 |
details, prediction |
Verge
XVG
|
0.278844 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.7212317 |
details, prediction |
Constellation
DAG
|
-0.6127663 |
details, prediction |
Dero
DERO
|
-0.20218766 |
details, prediction |
BOScoin
BOS
|
-0.17266053 |
details, prediction |
Elastos
ELA
|
0.53892374 |
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)