Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
KuCoin Shares
KCS
|
0.85486406 |
details, prediction |
Cardano
ADA
|
0.7853551 |
details, prediction |
Ethereum Classic
ETC
|
0.7711508 |
details, prediction |
Bitcoin Cash
BCH
|
0.76480055 |
details, prediction |
Crypto.com Chain
CRO
|
0.75050867 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.93638337 |
details, prediction |
Decentraland
MANA
|
0.9356478 |
details, prediction |
Vechain
VET
|
0.9128583 |
details, prediction |
Status
SNT
|
0.90632105 |
details, prediction |
Siacoin
SC
|
0.8987231 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.944064 |
details, prediction |
ICON
ICX
|
0.93251705 |
details, prediction |
Internet of Services
IOST
|
0.9239979 |
details, prediction |
Lisk
LSK
|
0.9013229 |
details, prediction |
AdEx
ADX
|
0.87698364 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Power Ledger 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 Power Ledger
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.6327643 |
details, prediction |
UNUS SED LEO
LEO
|
-0.32815653 |
details, prediction |
ZCash
ZEC
|
0.091105945 |
details, prediction |
Bitcoin
BTC
|
0.24090199 |
details, prediction |
Ethereum
ETH
|
0.25267068 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
-0.4119539 |
details, prediction |
Decred
DCR
|
-0.1401407 |
details, prediction |
HoloToken
HOT
|
0.05293666 |
details, prediction |
Algorand
ALGO
|
0.07218829 |
details, prediction |
Bitcoin SV
BSV
|
0.123067155 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.4090182 |
details, prediction |
Ontology
ONT
|
-0.38664746 |
details, prediction |
Propy
PRO
|
-0.29119688 |
details, prediction |
OPEN Platform
OPEN
|
-0.26740855 |
details, prediction |
NKN
NKN
|
-0.1634417 |
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)