Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
0.94607323 |
details, prediction |
EOS
EOS
|
0.91451323 |
details, prediction |
Ethereum Classic
ETC
|
0.90164316 |
details, prediction |
ZCash
ZEC
|
0.9014874 |
details, prediction |
Stellar
XLM
|
0.87250084 |
details, prediction |
Second tier
|
QTUM
QTUM
|
0.9355578 |
details, prediction |
Status
SNT
|
0.9113806 |
details, prediction |
Horizen
ZEN
|
0.8888081 |
details, prediction |
Bitcoin Gold
BTG
|
0.8743675 |
details, prediction |
Nano
NANO
|
0.86501867 |
details, prediction |
Third tier
|
0chain
ZCN
|
0.8492564 |
details, prediction |
Blockport
BPT
|
0.8269648 |
details, prediction |
PIVX
PIVX
|
0.82406306 |
details, prediction |
Einsteinium
EMC2
|
0.8119325 |
details, prediction |
Remme
REM
|
0.8082282 |
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
|
Crypto.com Chain
CRO
|
-0.45586932 |
details, prediction |
Huobi Token
HT
|
0.021689793 |
details, prediction |
Theta
THETA
|
0.19991937 |
details, prediction |
Dogecoin
DOGE
|
0.38744447 |
details, prediction |
Maker
MKR
|
0.45019835 |
details, prediction |
Second tier
|
Centrality
CENNZ
|
-0.57997537 |
details, prediction |
HedgeTrade
HEDG
|
-0.46021807 |
details, prediction |
KuCoin Shares
KCS
|
-0.3441102 |
details, prediction |
CyberVein
CVT
|
-0.30769077 |
details, prediction |
GlitzKoin
GTN
|
-0.23656893 |
details, prediction |
Third tier
|
ODEM
ODEM
|
-0.792931 |
details, prediction |
FlorinCoin
FLO
|
-0.64500093 |
details, prediction |
Kcash
KCASH
|
-0.59637046 |
details, prediction |
Libra Credit
LBA
|
-0.57269067 |
details, prediction |
ZrCoin
ZRC
|
-0.5620538 |
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)