Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
SONM
SNM
|
0.5999694 |
details, prediction |
Stellar
XLM
|
0.5423412 |
details, prediction |
Tezos
XTZ
|
0.46821126 |
details, prediction |
EOS
EOS
|
0.23507166 |
details, prediction |
Maker
MKR
|
0.21088244 |
details, prediction |
Second tier
|
Theta Fuel
TFUEL
|
0.72777516 |
details, prediction |
Waves
WAVES
|
0.69273204 |
details, prediction |
SysCoin
SYS
|
0.69143796 |
details, prediction |
ICON
ICX
|
0.6680921 |
details, prediction |
ARK
ARK
|
0.60057926 |
details, prediction |
Third tier
|
Tidex Token
TDX
|
0.95552784 |
details, prediction |
ZClassic
ZCL
|
0.8757962 |
details, prediction |
BHPCash
BHPC
|
0.8704505 |
details, prediction |
SolarCoin
SLR
|
0.8296153 |
details, prediction |
Diamond
DMD
|
0.7846429 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Musiccoin 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 Musiccoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
ChainLink
LINK
|
-0.6659212 |
details, prediction |
NEO
NEO
|
-0.3608606 |
details, prediction |
KuCoin Shares
KCS
|
-0.35136837 |
details, prediction |
Fantom
FTM
|
-0.3364847 |
details, prediction |
Bitcoin
BTC
|
-0.32875964 |
details, prediction |
Second tier
|
Quant Network
QNT
|
-0.71501845 |
details, prediction |
QTUM
QTUM
|
-0.5144621 |
details, prediction |
Nexo
NEXO
|
-0.4346001 |
details, prediction |
GXShares
GXS
|
-0.4190329 |
details, prediction |
Huobi Token
HT
|
-0.39089534 |
details, prediction |
Third tier
|
Mixin
XIN
|
-0.971202 |
details, prediction |
Energi
NRG
|
-0.82861364 |
details, prediction |
V Systems
VSYS
|
-0.81890637 |
details, prediction |
Darico
DEC
|
-0.7905927 |
details, prediction |
Seele
SEELE
|
-0.7520256 |
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)