Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.74978447 |
details, prediction |
Stellar
XLM
|
0.73966527 |
details, prediction |
Bitcoin
BTC
|
0.72319263 |
details, prediction |
Monero
XMR
|
0.70449805 |
details, prediction |
Litecoin
LTC
|
0.693591 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.88732404 |
details, prediction |
Nexo
NEXO
|
0.8297635 |
details, prediction |
EOS
EOS
|
0.81495905 |
details, prediction |
OriginTrail
TRAC
|
0.7600685 |
details, prediction |
aelf
ELF
|
0.7438207 |
details, prediction |
|
Third tier
|
Kleros
PNK
|
0.94722605 |
details, prediction |
Wanchain
WAN
|
0.891496 |
details, prediction |
V Systems
VSYS
|
0.86280334 |
details, prediction |
Streamr DATAcoin
DATA
|
0.8557493 |
details, prediction |
Hydro Protocol
HOT
|
0.84317374 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Steem 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 Steem
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.22730209 |
details, prediction |
Bitcoin Cash
BCH
|
0.18118745 |
details, prediction |
Binance Coin
BNB
|
0.31460652 |
details, prediction |
KuCoin Shares
KCS
|
0.40782788 |
details, prediction |
Dogecoin
DOGE
|
0.41002345 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.39198226 |
details, prediction |
Zilliqa
ZIL
|
-0.07497334 |
details, prediction |
True USD
TUSD
|
0.029759798 |
details, prediction |
Verge
XVG
|
0.21734227 |
details, prediction |
Request Network
REQ
|
0.2963811 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.2925441 |
details, prediction |
Constellation
DAG
|
-0.26286477 |
details, prediction |
Dero
DERO
|
-0.058554932 |
details, prediction |
Elastos
ELA
|
0.14324361 |
details, prediction |
Komodo
KMD
|
0.24243282 |
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)