Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.6924882 |
details, prediction |
Cardano
ADA
|
0.6879149 |
details, prediction |
XRP
XRP
|
0.4797891 |
details, prediction |
KuCoin Shares
KCS
|
0.41517162 |
details, prediction |
Ethereum Classic
ETC
|
0.40779138 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.939932 |
details, prediction |
Basic Attention Token
BAT
|
0.9232056 |
details, prediction |
Vechain
VET
|
0.89010614 |
details, prediction |
Siacoin
SC
|
0.84174955 |
details, prediction |
Theta Fuel
TFUEL
|
0.82649946 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.95941097 |
details, prediction |
Internet of Services
IOST
|
0.91639733 |
details, prediction |
ARK
ARK
|
0.9025078 |
details, prediction |
Power Ledger
POWR
|
0.89463776 |
details, prediction |
ICON
ICX
|
0.8727673 |
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
|
UNUS SED LEO
LEO
|
-0.82597244 |
details, prediction |
TRON
TRX
|
-0.5723724 |
details, prediction |
Ethereum
ETH
|
-0.235201 |
details, prediction |
Bitcoin
BTC
|
-0.06928166 |
details, prediction |
Stellar
XLM
|
-0.06036834 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.20160222 |
details, prediction |
Dai
DAI
|
-0.18719055 |
details, prediction |
True USD
TUSD
|
-0.10560478 |
details, prediction |
Decred
DCR
|
-0.0849484 |
details, prediction |
Algorand
ALGO
|
-0.011385516 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.6031267 |
details, prediction |
NKN
NKN
|
-0.48641708 |
details, prediction |
Ontology
ONT
|
-0.41151023 |
details, prediction |
Steem
STEEM
|
-0.2715228 |
details, prediction |
Dent
DENT
|
-0.18397586 |
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)