Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
KuCoin Shares
KCS
|
0.6627227 |
details, prediction |
Matic Network
MATIC
|
0.62791896 |
details, prediction |
Bitcoin Cash
BCH
|
0.55960155 |
details, prediction |
Bitcoin
BTC
|
0.5558773 |
details, prediction |
Litecoin
LTC
|
0.5009947 |
details, prediction |
Second tier
|
Polymath Network
POLY
|
0.7205279 |
details, prediction |
aelf
ELF
|
0.6560735 |
details, prediction |
Siacoin
SC
|
0.65325105 |
details, prediction |
Propy
PRO
|
0.6449875 |
details, prediction |
Cortex
CTXC
|
0.6187096 |
details, prediction |
Third tier
|
Kambria
KAT
|
0.80366707 |
details, prediction |
Polybius
PLBT
|
0.7485056 |
details, prediction |
Pillar
PLR
|
0.7063645 |
details, prediction |
SpaceChain
SPC
|
0.7038326 |
details, prediction |
Stratis
STRAT
|
0.6774264 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that MediShares 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 MediShares
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Chiliz
CHZ
|
-0.43489423 |
details, prediction |
IOTA
IOT
|
-0.22090672 |
details, prediction |
Stellar
XLM
|
-0.13117503 |
details, prediction |
XRP
XRP
|
-0.10789333 |
details, prediction |
Cardano
ADA
|
-0.051173307 |
details, prediction |
Second tier
|
EthLend
LEND
|
-0.6791659 |
details, prediction |
HoloToken
HOT
|
-0.18067563 |
details, prediction |
Stox
STX
|
-0.09453879 |
details, prediction |
Dent
DENT
|
-0.087186165 |
details, prediction |
Decentraland
MANA
|
-0.045632612 |
details, prediction |
Third tier
|
Xriba
XRA
|
-0.72589076 |
details, prediction |
Tierion
TNT
|
-0.61010695 |
details, prediction |
NameCoin
NMC
|
-0.5533051 |
details, prediction |
CargoX
CXO
|
-0.53114355 |
details, prediction |
Kin
KIN
|
-0.48064205 |
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)