Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Stellar
XLM
|
0.82852113 |
details, prediction |
Monero
XMR
|
0.7907057 |
details, prediction |
SONM
SNM
|
0.78257537 |
details, prediction |
Vechain
VET
|
0.7669969 |
details, prediction |
Theta
THETA
|
0.7654974 |
details, prediction |
Second tier
|
GXShares
GXS
|
0.8442942 |
details, prediction |
Bitcoin Gold
BTG
|
0.84160864 |
details, prediction |
Nexo
NEXO
|
0.82881975 |
details, prediction |
ZCash
ZEC
|
0.82011086 |
details, prediction |
iEx.ec
RLC
|
0.8148783 |
details, prediction |
Third tier
|
XinFin
XDCE
|
0.9530392 |
details, prediction |
Steem Backed Dollars
SBD
|
0.92927176 |
details, prediction |
BOX Token
BOX
|
0.9078288 |
details, prediction |
Grid+
GRID
|
0.9010497 |
details, prediction |
THEKEY
TKY
|
0.8951372 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Menlo One 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 Menlo One
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
USD//Coin
USDC
|
0.16625576 |
details, prediction |
Dogecoin
DOGE
|
0.44307506 |
details, prediction |
TRON
TRX
|
0.47564256 |
details, prediction |
Maker
MKR
|
0.63789624 |
details, prediction |
Binance Coin
BNB
|
0.66852057 |
details, prediction |
Second tier
|
Waves
WAVES
|
-0.63924575 |
details, prediction |
Dai
DAI
|
-0.074723676 |
details, prediction |
Paxos Standard
PAX
|
0.036764126 |
details, prediction |
True USD
TUSD
|
0.13920537 |
details, prediction |
Enjin Coin
ENJ
|
0.25753173 |
details, prediction |
Third tier
|
Unobtanium
UNO
|
-0.65505075 |
details, prediction |
Omnitude
ECOM
|
-0.5897021 |
details, prediction |
Bitcoin Private
BTCP
|
-0.529698 |
details, prediction |
Tycoon Global
TCT
|
-0.50419635 |
details, prediction |
Envion
EVN
|
-0.46311846 |
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)