Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Litecoin
LTC
|
0.9110184 |
details, prediction |
ZCash
ZEC
|
0.9008405 |
details, prediction |
Ethereum Classic
ETC
|
0.8728519 |
details, prediction |
Binance Coin
BNB
|
0.8393179 |
details, prediction |
Bitcoin
BTC
|
0.8316431 |
details, prediction |
|
Second tier
|
0x
ZRX
|
0.9609816 |
details, prediction |
Siacoin
SC
|
0.9364756 |
details, prediction |
Theta
THETA
|
0.92652494 |
details, prediction |
NEO
NEO
|
0.919691 |
details, prediction |
Vechain
VET
|
0.916286 |
details, prediction |
|
Third tier
|
Power Ledger
POWR
|
0.98482794 |
details, prediction |
Civic
CVC
|
0.96465147 |
details, prediction |
Kyber Network
KNC
|
0.9560042 |
details, prediction |
Metal
MTL
|
0.93480414 |
details, prediction |
ARK
ARK
|
0.9141979 |
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
|
0.119999126 |
details, prediction |
KuCoin Shares
KCS
|
0.576829 |
details, prediction |
Stellar
XLM
|
0.72650146 |
details, prediction |
Monero
XMR
|
0.7891015 |
details, prediction |
Bitcoin Cash
BCH
|
0.7920537 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.72304547 |
details, prediction |
USD//Coin
USDC
|
-0.4287187 |
details, prediction |
True USD
TUSD
|
-0.3902806 |
details, prediction |
aelf
ELF
|
0.066691905 |
details, prediction |
Telcoin
TEL
|
0.10868288 |
details, prediction |
|
Third tier
|
ICON
ICX
|
-0.6716324 |
details, prediction |
HEROcoin
PLAY
|
-0.67139083 |
details, prediction |
OPEN Platform
OPEN
|
-0.6644789 |
details, prediction |
Matrix AI Network
MAN
|
-0.58018655 |
details, prediction |
NKN
NKN
|
-0.53533095 |
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)