Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Ethereum
ETH
|
0.95189375 |
details, prediction |
NEO
NEO
|
0.95106494 |
details, prediction |
KuCoin Shares
KCS
|
0.950416 |
details, prediction |
SONM
SNM
|
0.93428177 |
details, prediction |
IOTA
IOT
|
0.9278381 |
details, prediction |
Second tier
|
QTUM
QTUM
|
0.96616834 |
details, prediction |
Kyber Network
KNC
|
0.9659584 |
details, prediction |
OmiseGo
OMG
|
0.9651961 |
details, prediction |
OriginTrail
TRAC
|
0.9618889 |
details, prediction |
Digix DAO
DGD
|
0.95957667 |
details, prediction |
Third tier
|
Token as a Service
TAAS
|
0.9682106 |
details, prediction |
Colu Local Network
CLN
|
0.9673389 |
details, prediction |
Egretia
EGT
|
0.9670102 |
details, prediction |
Nimiq
NET
|
0.96429926 |
details, prediction |
AventCoin
AVT
|
0.9631749 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Spreadcoin 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 Spreadcoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
ChainLink
LINK
|
-0.6988416 |
details, prediction |
Dogecoin
DOGE
|
-0.5965702 |
details, prediction |
Vechain
VET
|
0.14559256 |
details, prediction |
XRP
XRP
|
0.23082784 |
details, prediction |
Stellar
XLM
|
0.30505034 |
details, prediction |
Second tier
|
True USD
TUSD
|
-0.7426237 |
details, prediction |
HoloToken
HOT
|
-0.7067706 |
details, prediction |
Quant Network
QNT
|
-0.45352745 |
details, prediction |
XYO Network
XYO
|
0.008191488 |
details, prediction |
Dai
DAI
|
0.0879303 |
details, prediction |
Third tier
|
Metaverse
ETP
|
-0.898781 |
details, prediction |
VIN chain
VIN
|
-0.5606885 |
details, prediction |
Vitae
VITAE
|
-0.5304386 |
details, prediction |
BHPCash
BHPC
|
-0.50718135 |
details, prediction |
BitConnect
BCC
|
-0.4975497 |
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)