Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Stellar
XLM
|
0.81493247 |
details, prediction |
IOTA
IOT
|
0.8139943 |
details, prediction |
ChainLink
LINK
|
0.80314386 |
details, prediction |
Bitcoin SV
BSV
|
0.8018485 |
details, prediction |
Decentraland
MANA
|
0.7947248 |
details, prediction |
Second tier
|
Quant Network
QNT
|
0.9068525 |
details, prediction |
Ocean Protocol
OCEAN
|
0.8285158 |
details, prediction |
Utrust
UTK
|
0.8166389 |
details, prediction |
SysCoin
SYS
|
0.8002545 |
details, prediction |
Fantom
FTM
|
0.79787505 |
details, prediction |
Third tier
|
Gamecredits
GAME
|
0.9470607 |
details, prediction |
LBRY Credits
LBC
|
0.9156299 |
details, prediction |
WAX
WAX
|
0.90533096 |
details, prediction |
Ubiq
UBQ
|
0.89929277 |
details, prediction |
StealthCoin
XST
|
0.8885665 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ReddCoin 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 ReddCoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.586235 |
details, prediction |
Monero
XMR
|
0.47813174 |
details, prediction |
Dogecoin
DOGE
|
0.62897336 |
details, prediction |
Huobi Token
HT
|
0.6683172 |
details, prediction |
KuCoin Shares
KCS
|
0.69910604 |
details, prediction |
Second tier
|
Dai
DAI
|
-0.9190806 |
details, prediction |
USD//Coin
USDC
|
-0.9154096 |
details, prediction |
True USD
TUSD
|
-0.82739985 |
details, prediction |
Paxos Standard
PAX
|
-0.5705138 |
details, prediction |
EthLend
LEND
|
-0.5015187 |
details, prediction |
Third tier
|
Time New Bank
TNB
|
-0.81796515 |
details, prediction |
SunContract
SNC
|
-0.80655956 |
details, prediction |
Energi
NRG
|
-0.71914136 |
details, prediction |
FeatherCoin
FTC
|
-0.6436319 |
details, prediction |
Envion
EVN
|
-0.62865204 |
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)