Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.7085998 |
details, prediction |
Ethereum
ETH
|
0.7032144 |
details, prediction |
ChainLink
LINK
|
0.6677207 |
details, prediction |
Litecoin
LTC
|
0.6652483 |
details, prediction |
Bitcoin
BTC
|
0.66481745 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.8275421 |
details, prediction |
EOS
EOS
|
0.81495905 |
details, prediction |
aelf
ELF
|
0.76854205 |
details, prediction |
Nexo
NEXO
|
0.75414056 |
details, prediction |
OriginTrail
TRAC
|
0.7219211 |
details, prediction |
|
Third tier
|
Kleros
PNK
|
0.94722605 |
details, prediction |
Streamr DATAcoin
DATA
|
0.8557493 |
details, prediction |
V Systems
VSYS
|
0.85444164 |
details, prediction |
Hydro Protocol
HOT
|
0.83323765 |
details, prediction |
SwftCoin
SWFTC
|
0.7386783 |
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
|
-0.2306507 |
details, prediction |
Bitcoin Cash
BCH
|
0.22248134 |
details, prediction |
Binance Coin
BNB
|
0.32963502 |
details, prediction |
ZCash
ZEC
|
0.37064224 |
details, prediction |
Dogecoin
DOGE
|
0.4067557 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.37031645 |
details, prediction |
Zilliqa
ZIL
|
0.024650797 |
details, prediction |
True USD
TUSD
|
0.050538965 |
details, prediction |
Verge
XVG
|
0.23216014 |
details, prediction |
Request Network
REQ
|
0.2969353 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.33840027 |
details, prediction |
Ontology
ONT
|
-0.045964323 |
details, prediction |
Constellation
DAG
|
0.029832305 |
details, prediction |
Enjin Coin
ENJ
|
0.06388881 |
details, prediction |
OPEN Platform
OPEN
|
0.08888969 |
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)