Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Monero
XMR
|
0.6792152 |
details, prediction |
Nexo
NEXO
|
0.53183043 |
details, prediction |
EOS
EOS
|
0.47548494 |
details, prediction |
Ethereum
ETH
|
0.46902177 |
details, prediction |
Dogecoin
DOGE
|
0.4536924 |
details, prediction |
Second tier
|
0x
ZRX
|
0.8207844 |
details, prediction |
Metal
MTL
|
0.72256964 |
details, prediction |
Groestlcoin
GRS
|
0.6790564 |
details, prediction |
Kyber Network
KNC
|
0.66313815 |
details, prediction |
Synthetix Network Token
SNX
|
0.64754343 |
details, prediction |
Third tier
|
DxChain
DX
|
0.7390012 |
details, prediction |
aXpire
AXPR
|
0.7007762 |
details, prediction |
Red Pulse Phoenix
PHX
|
0.6956112 |
details, prediction |
Haven Protocol
XHV
|
0.6868159 |
details, prediction |
Dragon Coin
DRG
|
0.65048164 |
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
|
Fantom
FTM
|
-0.14724776 |
details, prediction |
Decentraland
MANA
|
-0.14062619 |
details, prediction |
Cosmos
ATOM
|
-0.107988805 |
details, prediction |
Maker
MKR
|
-0.01462726 |
details, prediction |
XRP
XRP
|
0.008237647 |
details, prediction |
Second tier
|
True USD
TUSD
|
-0.5146158 |
details, prediction |
MonaCoin
MONA
|
-0.2887688 |
details, prediction |
Bitcoin Diamond
BCD
|
-0.2833904 |
details, prediction |
USD//Coin
USDC
|
-0.27493107 |
details, prediction |
Dai
DAI
|
-0.25571033 |
details, prediction |
Third tier
|
Crypviser
CVCOIN
|
-0.78931373 |
details, prediction |
Gemini Dollar
GUSD
|
-0.5534427 |
details, prediction |
XtraBYtes
XBY
|
-0.48066303 |
details, prediction |
indaHash
IDH
|
-0.4658012 |
details, prediction |
B2B
B2B
|
-0.46470147 |
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)