Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.7481395 |
details, prediction |
Ethereum Classic
ETC
|
0.74019796 |
details, prediction |
Litecoin
LTC
|
0.6553467 |
details, prediction |
Bitcoin
BTC
|
0.54453635 |
details, prediction |
Dogecoin
DOGE
|
0.5415992 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.70747507 |
details, prediction |
0x
ZRX
|
0.70432216 |
details, prediction |
Bitcoin SV
BSV
|
0.6751202 |
details, prediction |
QTUM
QTUM
|
0.63856894 |
details, prediction |
Theta
THETA
|
0.6203969 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.63646257 |
details, prediction |
LAToken
LA
|
0.59138274 |
details, prediction |
Bancor
BNT
|
0.58460605 |
details, prediction |
Power Ledger
POWR
|
0.5299501 |
details, prediction |
Civic
CVC
|
0.52401173 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that NEO 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 NEO
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
-0.20945379 |
details, prediction |
Stellar
XLM
|
-0.19283596 |
details, prediction |
Crypto.com Chain
CRO
|
-0.05412076 |
details, prediction |
Bitcoin Cash
BCH
|
0.03712712 |
details, prediction |
TRON
TRX
|
0.08541892 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5517611 |
details, prediction |
USD//Coin
USDC
|
-0.4470507 |
details, prediction |
Verge
XVG
|
-0.1976087 |
details, prediction |
Bitcoin Gold
BTG
|
-0.18994415 |
details, prediction |
OriginTrail
TRAC
|
-0.1395492 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.46520394 |
details, prediction |
NKN
NKN
|
-0.31957304 |
details, prediction |
Wanchain
WAN
|
-0.28457284 |
details, prediction |
Dent
DENT
|
-0.2529925 |
details, prediction |
Elastos
ELA
|
-0.08951074 |
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)