Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9402051 |
details, prediction |
Dogecoin
DOGE
|
0.860552 |
details, prediction |
Litecoin
LTC
|
0.7937748 |
details, prediction |
XRP
XRP
|
0.79257625 |
details, prediction |
Stellar
XLM
|
0.7313172 |
details, prediction |
|
Second tier
|
Algorand
ALGO
|
0.90429705 |
details, prediction |
IOTA
IOT
|
0.88945603 |
details, prediction |
Decentraland
MANA
|
0.8842538 |
details, prediction |
Tezos
XTZ
|
0.85034347 |
details, prediction |
0x
ZRX
|
0.8478394 |
details, prediction |
|
Third tier
|
Kyber Network
KNC
|
0.8958379 |
details, prediction |
Gas
GAS
|
0.86523646 |
details, prediction |
ARK
ARK
|
0.8310032 |
details, prediction |
Steem
STEEM
|
0.82452023 |
details, prediction |
Stox
STX
|
0.81537557 |
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
|
0.26010996 |
details, prediction |
Monero
XMR
|
0.50662845 |
details, prediction |
Cardano
ADA
|
0.5584235 |
details, prediction |
ChainLink
LINK
|
0.5936816 |
details, prediction |
Ethereum
ETH
|
0.60286486 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.25322497 |
details, prediction |
USD//Coin
USDC
|
-0.18876286 |
details, prediction |
True USD
TUSD
|
-0.1500792 |
details, prediction |
Dai
DAI
|
-0.14488898 |
details, prediction |
aelf
ELF
|
-0.04567001 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.52455854 |
details, prediction |
Matrix AI Network
MAN
|
-0.39176038 |
details, prediction |
OPEN Platform
OPEN
|
-0.32258165 |
details, prediction |
ICON
ICX
|
-0.31725132 |
details, prediction |
HEROcoin
PLAY
|
-0.28407374 |
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)