Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.71357787 |
details, prediction |
Dogecoin
DOGE
|
0.66232795 |
details, prediction |
Stellar
XLM
|
0.6249168 |
details, prediction |
XRP
XRP
|
0.39790082 |
details, prediction |
KuCoin Shares
KCS
|
0.27556401 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.8205148 |
details, prediction |
Siacoin
SC
|
0.8199428 |
details, prediction |
Status
SNT
|
0.8148571 |
details, prediction |
Tezos
XTZ
|
0.785202 |
details, prediction |
Basic Attention Token
BAT
|
0.7220588 |
details, prediction |
|
Third tier
|
ARK
ARK
|
0.8974406 |
details, prediction |
PIVX
PIVX
|
0.8876398 |
details, prediction |
Civic
CVC
|
0.8704107 |
details, prediction |
Steem
STEEM
|
0.8664813 |
details, prediction |
Kyber Network
KNC
|
0.8408082 |
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
|
-0.2657662 |
details, prediction |
Cardano
ADA
|
-0.087164365 |
details, prediction |
Monero
XMR
|
-0.07693821 |
details, prediction |
Ethereum
ETH
|
-0.057801254 |
details, prediction |
ChainLink
LINK
|
-0.00938421 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.44231212 |
details, prediction |
Dai
DAI
|
-0.35003522 |
details, prediction |
Bitcoin SV
BSV
|
-0.14915529 |
details, prediction |
Decred
DCR
|
-0.146062 |
details, prediction |
HoloToken
HOT
|
-0.004675387 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.6500929 |
details, prediction |
V Systems
VSYS
|
-0.42799252 |
details, prediction |
Propy
PRO
|
-0.21983406 |
details, prediction |
SysCoin
SYS
|
-0.18853568 |
details, prediction |
AdEx
ADX
|
-0.101941794 |
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)