Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.8249629 |
details, prediction |
Litecoin
LTC
|
0.80362076 |
details, prediction |
Monero
XMR
|
0.80125767 |
details, prediction |
ZCash
ZEC
|
0.78729135 |
details, prediction |
Ethereum Classic
ETC
|
0.76415104 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.7386782 |
details, prediction |
DASH
DASH
|
0.71748763 |
details, prediction |
0x
ZRX
|
0.71441907 |
details, prediction |
Bitcoin SV
BSV
|
0.6711104 |
details, prediction |
Algorand
ALGO
|
0.6298544 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.74924713 |
details, prediction |
V Systems
VSYS
|
0.64726484 |
details, prediction |
Storj
STORJ
|
0.63119256 |
details, prediction |
Metal
MTL
|
0.6237055 |
details, prediction |
Hydro Protocol
HOT
|
0.53660625 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ChainLink 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 ChainLink
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
-0.49258968 |
details, prediction |
Stellar
XLM
|
-0.015461777 |
details, prediction |
Crypto.com Chain
CRO
|
0.03188673 |
details, prediction |
Cardano
ADA
|
0.16412407 |
details, prediction |
KuCoin Shares
KCS
|
0.4421596 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.6845851 |
details, prediction |
Verge
XVG
|
-0.55486864 |
details, prediction |
USD//Coin
USDC
|
-0.54276067 |
details, prediction |
Ardor
ARDR
|
-0.45216915 |
details, prediction |
Waves
WAVES
|
-0.42683265 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
-0.54021883 |
details, prediction |
BABB
BAX
|
-0.52571183 |
details, prediction |
PIVX
PIVX
|
-0.51063335 |
details, prediction |
LAToken
LA
|
-0.49121487 |
details, prediction |
Phantasma
SOUL
|
-0.46514148 |
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)