Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.9405529 |
details, prediction |
Crypto.com Chain
CRO
|
0.9253184 |
details, prediction |
Cardano
ADA
|
0.894495 |
details, prediction |
Litecoin
LTC
|
0.89102495 |
details, prediction |
XRP
XRP
|
0.8796754 |
details, prediction |
|
Second tier
|
Waves
WAVES
|
0.9395941 |
details, prediction |
Theta Fuel
TFUEL
|
0.93684924 |
details, prediction |
Bitcoin Gold
BTG
|
0.93551445 |
details, prediction |
aelf
ELF
|
0.92876625 |
details, prediction |
Siacoin
SC
|
0.9202642 |
details, prediction |
|
Third tier
|
LAToken
LA
|
0.9639322 |
details, prediction |
SingularityNET
AGI
|
0.9614451 |
details, prediction |
PIVX
PIVX
|
0.9058179 |
details, prediction |
Lisk
LSK
|
0.9054983 |
details, prediction |
SysCoin
SYS
|
0.90056735 |
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
|
UNUS SED LEO
LEO
|
-0.9064204 |
details, prediction |
Stellar
XLM
|
-0.5145207 |
details, prediction |
ZCash
ZEC
|
-0.4610329 |
details, prediction |
TRON
TRX
|
-0.42950717 |
details, prediction |
Monero
XMR
|
0.12327972 |
details, prediction |
|
Second tier
|
OriginTrail
TRAC
|
-0.6034299 |
details, prediction |
USD//Coin
USDC
|
-0.46001905 |
details, prediction |
Dai
DAI
|
-0.42532775 |
details, prediction |
Telcoin
TEL
|
-0.3673455 |
details, prediction |
True USD
TUSD
|
-0.30284345 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.2802503 |
details, prediction |
OPEN Platform
OPEN
|
-0.24289516 |
details, prediction |
HEROcoin
PLAY
|
-0.17084436 |
details, prediction |
Enjin Coin
ENJ
|
0.060915276 |
details, prediction |
Loopring
LRC
|
0.24789844 |
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)