Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Fantom
FTM
|
0.8947642 |
details, prediction |
Litecoin
LTC
|
0.7304031 |
details, prediction |
KuCoin Shares
KCS
|
0.7014023 |
details, prediction |
Ethereum Classic
ETC
|
0.6975917 |
details, prediction |
Cardano
ADA
|
0.69302326 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.7406808 |
details, prediction |
NEO
NEO
|
0.7349089 |
details, prediction |
DASH
DASH
|
0.7160278 |
details, prediction |
Vechain
VET
|
0.6948772 |
details, prediction |
DigiByte
DGB
|
0.68617076 |
details, prediction |
|
Third tier
|
Tidex Token
TDX
|
0.947501 |
details, prediction |
Molecule
MOL
|
0.8741055 |
details, prediction |
ByteCoin
BCN
|
0.8093719 |
details, prediction |
WeShow Token
WET
|
0.7867159 |
details, prediction |
Pluton
PLU
|
0.7698669 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that CoinStarter 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 CoinStarter
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
-0.2929895 |
details, prediction |
Maker
MKR
|
-0.1066638 |
details, prediction |
XRP
XRP
|
0.06896886 |
details, prediction |
Stellar
XLM
|
0.3708487 |
details, prediction |
SONM
SNM
|
0.40284285 |
details, prediction |
|
Second tier
|
Paxos Standard
PAX
|
-0.4668322 |
details, prediction |
Nexo
NEXO
|
-0.3911067 |
details, prediction |
Quant Network
QNT
|
-0.38423285 |
details, prediction |
True USD
TUSD
|
-0.313292 |
details, prediction |
Dai
DAI
|
-0.30559784 |
details, prediction |
|
Third tier
|
Darico
DEC
|
-0.6178351 |
details, prediction |
Tycoon Global
TCT
|
-0.57554895 |
details, prediction |
Gemini Dollar
GUSD
|
-0.57479894 |
details, prediction |
Chainium
CHX
|
-0.5570581 |
details, prediction |
Dero
DERO
|
-0.5562178 |
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)