Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Bitcoin Cash
BCH
|
0.98893136 |
details, prediction |
Matic Network
MATIC
|
0.987875 |
details, prediction |
XRP
XRP
|
0.9840569 |
details, prediction |
FTX Token
FTT
|
0.98329735 |
details, prediction |
Crypto.com Chain
CRO
|
0.97948736 |
details, prediction |
Second tier
|
NEM
XEM
|
0.9891943 |
details, prediction |
DASH
DASH
|
0.9848742 |
details, prediction |
Algorand
ALGO
|
0.98346823 |
details, prediction |
Horizen
ZEN
|
0.98335016 |
details, prediction |
Ravencoin
RVN
|
0.9816255 |
details, prediction |
Third tier
|
QLINK
QLC
|
0.98622096 |
details, prediction |
Wanchain
WAN
|
0.9809418 |
details, prediction |
Bitshares
BTS
|
0.9802489 |
details, prediction |
Stox
STX
|
0.9793355 |
details, prediction |
Komodo
KMD
|
0.97732514 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Litecoin 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 Litecoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.40743735 |
details, prediction |
Monero
XMR
|
0.70510757 |
details, prediction |
KuCoin Shares
KCS
|
0.813548 |
details, prediction |
UNUS SED LEO
LEO
|
0.875084 |
details, prediction |
Ethereum Classic
ETC
|
0.9212035 |
details, prediction |
Second tier
|
True USD
TUSD
|
-0.6047012 |
details, prediction |
USD//Coin
USDC
|
-0.583568 |
details, prediction |
Dai
DAI
|
-0.52893215 |
details, prediction |
Paxos Standard
PAX
|
-0.48126388 |
details, prediction |
EthLend
LEND
|
-0.36766803 |
details, prediction |
Third tier
|
Time New Bank
TNB
|
-0.88961446 |
details, prediction |
ILCoin
ILC
|
-0.7118759 |
details, prediction |
Gemini Dollar
GUSD
|
-0.70573175 |
details, prediction |
Seele
SEELE
|
-0.59037966 |
details, prediction |
FeatherCoin
FTC
|
-0.58459747 |
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)