Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Maker
MKR
|
0.7160108 |
details, prediction |
ZCash
ZEC
|
0.68803436 |
details, prediction |
Bitcoin
BTC
|
0.67732185 |
details, prediction |
Litecoin
LTC
|
0.6732024 |
details, prediction |
SONM
SNM
|
0.6532973 |
details, prediction |
|
Second tier
|
iEx.ec
RLC
|
0.74560964 |
details, prediction |
HedgeTrade
HEDG
|
0.7333059 |
details, prediction |
Synthetix Network Token
SNX
|
0.72749555 |
details, prediction |
Cosmos
ATOM
|
0.72275686 |
details, prediction |
Algorand
ALGO
|
0.6753771 |
details, prediction |
|
Third tier
|
Zilbercoin
ZBC
|
0.8331666 |
details, prediction |
DT Token
DRACO
|
0.8328844 |
details, prediction |
DubaiCoin
DBIX
|
0.8198489 |
details, prediction |
Nimiq
NET
|
0.80053276 |
details, prediction |
Electroneum
ETN
|
0.79058653 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Paragon 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 Paragon
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
-0.54652244 |
details, prediction |
ChainLink
LINK
|
0.33368126 |
details, prediction |
KuCoin Shares
KCS
|
0.47194844 |
details, prediction |
Ethereum
ETH
|
0.542043 |
details, prediction |
Crypto.com Chain
CRO
|
0.5465784 |
details, prediction |
|
Second tier
|
BORA
BORA
|
-0.2056328 |
details, prediction |
Metadium
META
|
-0.12742013 |
details, prediction |
True USD
TUSD
|
-0.10065457 |
details, prediction |
Paxos Standard
PAX
|
-0.096283466 |
details, prediction |
Dai
DAI
|
-0.048171077 |
details, prediction |
|
Third tier
|
Streamr DATAcoin
DATA
|
-0.49504593 |
details, prediction |
Phore
PHR
|
-0.47322863 |
details, prediction |
Tycoon Global
TCT
|
-0.4391621 |
details, prediction |
Numerai
NMR
|
-0.43482223 |
details, prediction |
Docademic
MTC
|
-0.40048087 |
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)