Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.75038165 |
details, prediction |
Bitcoin Cash
BCH
|
0.7459753 |
details, prediction |
XRP
XRP
|
0.73767155 |
details, prediction |
Bitcoin
BTC
|
0.66289914 |
details, prediction |
Litecoin
LTC
|
0.651223 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
0.7427987 |
details, prediction |
0x
ZRX
|
0.7355887 |
details, prediction |
Theta
THETA
|
0.6783591 |
details, prediction |
QTUM
QTUM
|
0.65955156 |
details, prediction |
NEO
NEO
|
0.6528698 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.86410654 |
details, prediction |
Bancor
BNT
|
0.72116065 |
details, prediction |
Gas
GAS
|
0.7071579 |
details, prediction |
Ontology
ONT
|
0.706668 |
details, prediction |
Stox
STX
|
0.67423755 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Decentraland 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 Decentraland
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
0.36530134 |
details, prediction |
TRON
TRX
|
0.3697892 |
details, prediction |
Stellar
XLM
|
0.43486133 |
details, prediction |
Cardano
ADA
|
0.46576628 |
details, prediction |
ZCash
ZEC
|
0.5105277 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.27730858 |
details, prediction |
USD//Coin
USDC
|
-0.07522141 |
details, prediction |
Ravencoin
RVN
|
-0.06389353 |
details, prediction |
aelf
ELF
|
-0.050659884 |
details, prediction |
True USD
TUSD
|
-0.03412331 |
details, prediction |
|
Third tier
|
Dero
DERO
|
-0.39465013 |
details, prediction |
NKN
NKN
|
-0.38552803 |
details, prediction |
OPEN Platform
OPEN
|
-0.3589536 |
details, prediction |
Matrix AI Network
MAN
|
-0.3297313 |
details, prediction |
ICON
ICX
|
-0.31008977 |
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)