Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.88410455 |
details, prediction |
KuCoin Shares
KCS
|
0.8719297 |
details, prediction |
Litecoin
LTC
|
0.86221147 |
details, prediction |
UNUS SED LEO
LEO
|
0.8450855 |
details, prediction |
Bitcoin
BTC
|
0.83139426 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
0.90199775 |
details, prediction |
Status
SNT
|
0.9007372 |
details, prediction |
Vechain
VET
|
0.8898793 |
details, prediction |
Nexo
NEXO
|
0.8803725 |
details, prediction |
0x
ZRX
|
0.871738 |
details, prediction |
|
Third tier
|
ICON
ICX
|
0.9288906 |
details, prediction |
LAToken
LA
|
0.8893656 |
details, prediction |
Civic
CVC
|
0.8708137 |
details, prediction |
Hydro Protocol
HOT
|
0.86902434 |
details, prediction |
QuarkChain
QKC
|
0.8631478 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Metal 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 Metal
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.71049285 |
details, prediction |
TRON
TRX
|
-0.022945005 |
details, prediction |
ZCash
ZEC
|
0.007657679 |
details, prediction |
Binance Coin
BNB
|
0.15868525 |
details, prediction |
Monero
XMR
|
0.5646692 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.59644234 |
details, prediction |
OriginTrail
TRAC
|
-0.5170173 |
details, prediction |
USD//Coin
USDC
|
-0.45612308 |
details, prediction |
Telcoin
TEL
|
-0.27622455 |
details, prediction |
True USD
TUSD
|
0.03887296 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.7427789 |
details, prediction |
Komodo
KMD
|
-0.5858291 |
details, prediction |
Loopring
LRC
|
-0.40521777 |
details, prediction |
Chronobank
TIME
|
-0.038206257 |
details, prediction |
V Systems
VSYS
|
-0.035939865 |
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)