Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Tezos
XTZ
|
0.76710606 |
details, prediction |
Bitcoin SV
BSV
|
0.595974 |
details, prediction |
TRON
TRX
|
0.55174065 |
details, prediction |
EOS
EOS
|
0.5517156 |
details, prediction |
XRP
XRP
|
0.47773093 |
details, prediction |
Second tier
|
Ontology
ONT
|
0.8993176 |
details, prediction |
Bytom
BTM
|
0.85933757 |
details, prediction |
Enjin Coin
ENJ
|
0.79432285 |
details, prediction |
Kyber Network
KNC
|
0.7823464 |
details, prediction |
Bitcoin Diamond
BCD
|
0.78131366 |
details, prediction |
Third tier
|
Darico
DEC
|
0.95901847 |
details, prediction |
Achain
ACT
|
0.861192 |
details, prediction |
GXShares
GXS
|
0.8408229 |
details, prediction |
Skrumble Network
SKM
|
0.8190559 |
details, prediction |
GXChain
GXC
|
0.8018506 |
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
|
Theta
THETA
|
-0.35444224 |
details, prediction |
Bitcoin
BTC
|
-0.2608079 |
details, prediction |
Monero
XMR
|
-0.24009159 |
details, prediction |
Binance Coin
BNB
|
-0.23176192 |
details, prediction |
Litecoin
LTC
|
-0.19141988 |
details, prediction |
Second tier
|
Theta Fuel
TFUEL
|
-0.33015296 |
details, prediction |
Zilliqa
ZIL
|
-0.3100492 |
details, prediction |
SwissBorg
CHSB
|
-0.3060545 |
details, prediction |
RSK Infrastructure Framework
RIF
|
-0.29226837 |
details, prediction |
Chiliz
CHZ
|
-0.24912679 |
details, prediction |
Third tier
|
Napoleon X
NPX
|
-0.7595891 |
details, prediction |
ShortyCoin
SHORTY
|
-0.48723742 |
details, prediction |
Crypterium
CRPT
|
-0.46257165 |
details, prediction |
Morpheus Network
MORPH
|
-0.45454857 |
details, prediction |
NAGA
NGC
|
-0.44873506 |
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)