Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Dogecoin
DOGE
|
0.5048169 |
details, prediction |
Maker
MKR
|
0.44541842 |
details, prediction |
SONM
SNM
|
0.44218162 |
details, prediction |
USD//Coin
USDC
|
0.36954072 |
details, prediction |
UNUS SED LEO
LEO
|
0.36116484 |
details, prediction |
Second tier
|
iEx.ec
RLC
|
0.6270636 |
details, prediction |
Quant Network
QNT
|
0.53496003 |
details, prediction |
GXShares
GXS
|
0.52500004 |
details, prediction |
HoloToken
HOT
|
0.51086575 |
details, prediction |
Cortex
CTXC
|
0.49260092 |
details, prediction |
Third tier
|
Wowbit
WWB
|
0.86418194 |
details, prediction |
WAX
WAX
|
0.83064485 |
details, prediction |
BHPCash
BHPC
|
0.78552115 |
details, prediction |
HEROcoin
PLAY
|
0.7832785 |
details, prediction |
Omni
OMNI
|
0.7774439 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Legolas 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 Legolas
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Cosmos
ATOM
|
-0.124658525 |
details, prediction |
Theta
THETA
|
-0.10121031 |
details, prediction |
Tezos
XTZ
|
-0.06144327 |
details, prediction |
ChainLink
LINK
|
0.052110065 |
details, prediction |
Bitcoin SV
BSV
|
0.0627457 |
details, prediction |
Second tier
|
FTX Token
FTT
|
-0.29289436 |
details, prediction |
HedgeTrade
HEDG
|
-0.18349776 |
details, prediction |
AMO Coin
AMO
|
-0.16684757 |
details, prediction |
BORA
BORA
|
-0.112871125 |
details, prediction |
Horizen
ZEN
|
-0.077486135 |
details, prediction |
Third tier
|
Ecoreal Estate
ECOREAL
|
-0.54430604 |
details, prediction |
BipCoin
BIP
|
-0.47964478 |
details, prediction |
Cryptonex
CNX
|
-0.39483 |
details, prediction |
CargoX
CXO
|
-0.39230907 |
details, prediction |
Blockport
BPT
|
-0.38109747 |
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)