Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.9448232 |
details, prediction |
Cardano
ADA
|
0.9401115 |
details, prediction |
Ethereum Classic
ETC
|
0.9316706 |
details, prediction |
Stellar
XLM
|
0.9246238 |
details, prediction |
Litecoin
LTC
|
0.9146073 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.97457826 |
details, prediction |
Telcoin
TEL
|
0.944509 |
details, prediction |
0x
ZRX
|
0.94313055 |
details, prediction |
Basic Attention Token
BAT
|
0.94007725 |
details, prediction |
DASH
DASH
|
0.9264847 |
details, prediction |
|
Third tier
|
IoTeX
IOTX
|
0.9304358 |
details, prediction |
ICON
ICX
|
0.92976725 |
details, prediction |
Phantasma
SOUL
|
0.9291859 |
details, prediction |
Kyber Network
KNC
|
0.9280725 |
details, prediction |
Dent
DENT
|
0.9264524 |
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
|
TRON
TRX
|
-0.5986676 |
details, prediction |
Binance Coin
BNB
|
-0.2523172 |
details, prediction |
Dogecoin
DOGE
|
0.17569563 |
details, prediction |
XRP
XRP
|
0.3699675 |
details, prediction |
Monero
XMR
|
0.70838326 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.6623433 |
details, prediction |
True USD
TUSD
|
-0.58060515 |
details, prediction |
Ardor
ARDR
|
0.14895852 |
details, prediction |
Zilliqa
ZIL
|
0.2883809 |
details, prediction |
Decred
DCR
|
0.29529673 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.7564404 |
details, prediction |
Constellation
DAG
|
-0.50225395 |
details, prediction |
Dero
DERO
|
-0.3381575 |
details, prediction |
BOScoin
BOS
|
-0.22067773 |
details, prediction |
Elastos
ELA
|
0.18562916 |
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)