Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Litecoin
LTC
|
0.92383593 |
details, prediction |
Bitcoin Cash
BCH
|
0.8754811 |
details, prediction |
Ethereum Classic
ETC
|
0.86408937 |
details, prediction |
Cardano
ADA
|
0.83155334 |
details, prediction |
Bitcoin
BTC
|
0.7966262 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.94460917 |
details, prediction |
Algorand
ALGO
|
0.9403338 |
details, prediction |
HoloToken
HOT
|
0.9008649 |
details, prediction |
NEO
NEO
|
0.89478225 |
details, prediction |
0x
ZRX
|
0.89220047 |
details, prediction |
|
Third tier
|
Hydro Protocol
HOT
|
0.8982114 |
details, prediction |
Stox
STX
|
0.8883769 |
details, prediction |
ARK
ARK
|
0.8718464 |
details, prediction |
Steem
STEEM
|
0.8508427 |
details, prediction |
Electroneum
ETN
|
0.83960664 |
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
|
0.21708228 |
details, prediction |
Monero
XMR
|
0.67592055 |
details, prediction |
Ethereum
ETH
|
0.73106265 |
details, prediction |
KuCoin Shares
KCS
|
0.7314742 |
details, prediction |
ZCash
ZEC
|
0.7537202 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.52780825 |
details, prediction |
USD//Coin
USDC
|
-0.19866672 |
details, prediction |
True USD
TUSD
|
-0.15427771 |
details, prediction |
DigiByte
DGB
|
0.23661354 |
details, prediction |
Telcoin
TEL
|
0.2775418 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.6042505 |
details, prediction |
HEROcoin
PLAY
|
-0.5892359 |
details, prediction |
ICON
ICX
|
-0.51629674 |
details, prediction |
NKN
NKN
|
-0.47064924 |
details, prediction |
Matrix AI Network
MAN
|
-0.42070782 |
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)