Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.9144422 |
details, prediction |
Cardano
ADA
|
0.91004944 |
details, prediction |
Ethereum Classic
ETC
|
0.9081261 |
details, prediction |
Crypto.com Chain
CRO
|
0.9034082 |
details, prediction |
Stellar
XLM
|
0.870479 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.9929309 |
details, prediction |
Telcoin
TEL
|
0.98725206 |
details, prediction |
QTUM
QTUM
|
0.98202646 |
details, prediction |
Basic Attention Token
BAT
|
0.980122 |
details, prediction |
FTX Token
FTT
|
0.9795272 |
details, prediction |
|
Third tier
|
SwftCoin
SWFTC
|
0.99430525 |
details, prediction |
Power Ledger
POWR
|
0.990304 |
details, prediction |
Storj
STORJ
|
0.9882027 |
details, prediction |
PIVX
PIVX
|
0.98439175 |
details, prediction |
ICON
ICX
|
0.98317134 |
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
|
TRON
TRX
|
-0.49045148 |
details, prediction |
UNUS SED LEO
LEO
|
0.31562275 |
details, prediction |
Binance Coin
BNB
|
0.330195 |
details, prediction |
Dogecoin
DOGE
|
0.48440954 |
details, prediction |
XRP
XRP
|
0.6379746 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5196589 |
details, prediction |
Decred
DCR
|
-0.118358605 |
details, prediction |
True USD
TUSD
|
-0.0040124203 |
details, prediction |
Zilliqa
ZIL
|
0.31013063 |
details, prediction |
Verge
XVG
|
0.32093543 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.4131713 |
details, prediction |
Constellation
DAG
|
-0.235485 |
details, prediction |
Dero
DERO
|
-0.039734256 |
details, prediction |
BABB
BAX
|
-0.011499251 |
details, prediction |
Dent
DENT
|
0.41919315 |
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)