Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Binance Coin
BNB
|
0.6845983 |
details, prediction |
Ethereum
ETH
|
0.671603 |
details, prediction |
SONM
SNM
|
0.6430278 |
details, prediction |
Bitcoin Cash
BCH
|
0.5865595 |
details, prediction |
Stellar
XLM
|
0.5748529 |
details, prediction |
Second tier
|
MonaCoin
MONA
|
0.80555654 |
details, prediction |
Digix DAO
DGD
|
0.7865604 |
details, prediction |
Ocean Protocol
OCEAN
|
0.764937 |
details, prediction |
Status
SNT
|
0.7543155 |
details, prediction |
Gas
GAS
|
0.7246134 |
details, prediction |
Third tier
|
VertCoin
VTC
|
0.8664115 |
details, prediction |
Nexus
NXS
|
0.8572141 |
details, prediction |
Yoyow
YOYOW
|
0.85061204 |
details, prediction |
Linker Coin
LNC
|
0.8485666 |
details, prediction |
RSK Infrastructure Framework
RIF
|
0.8359048 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Sphere Coin 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 Sphere Coin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
UNUS SED LEO
LEO
|
-0.62055445 |
details, prediction |
Dogecoin
DOGE
|
-0.41258046 |
details, prediction |
Fantom
FTM
|
-0.1181546 |
details, prediction |
Cosmos
ATOM
|
-0.060436107 |
details, prediction |
USD//Coin
USDC
|
0.10598135 |
details, prediction |
Second tier
|
Kyber Network
KNC
|
-0.6386424 |
details, prediction |
Propy
PRO
|
-0.17528367 |
details, prediction |
Power Ledger
POWR
|
-0.07912872 |
details, prediction |
FTX Token
FTT
|
-0.028357957 |
details, prediction |
SysCoin
SYS
|
-0.012043915 |
details, prediction |
Third tier
|
Tidex Token
TDX
|
-0.93462896 |
details, prediction |
AventCoin
AVT
|
-0.6706511 |
details, prediction |
SwftCoin
SWFTC
|
-0.6562987 |
details, prediction |
Quantstamp
QSP
|
-0.598955 |
details, prediction |
CREDITS
CS
|
-0.56957126 |
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)