Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.6211404 |
details, prediction |
Cardano
ADA
|
0.60017145 |
details, prediction |
Bitcoin Cash
BCH
|
0.58402395 |
details, prediction |
ChainLink
LINK
|
0.57649964 |
details, prediction |
Stellar
XLM
|
0.551016 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
0.894733 |
details, prediction |
OriginTrail
TRAC
|
0.8423346 |
details, prediction |
Algorand
ALGO
|
0.8344931 |
details, prediction |
0x
ZRX
|
0.8321267 |
details, prediction |
Waves
WAVES
|
0.8297249 |
details, prediction |
|
Third tier
|
Hydro Protocol
HOT
|
0.8334085 |
details, prediction |
AdEx
ADX
|
0.8165089 |
details, prediction |
OPEN Platform
OPEN
|
0.79131544 |
details, prediction |
Enjin Coin
ENJ
|
0.77878046 |
details, prediction |
Storj
STORJ
|
0.7778599 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Stox 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 Stox
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Binance Coin
BNB
|
-0.39545825 |
details, prediction |
TRON
TRX
|
-0.2239161 |
details, prediction |
XRP
XRP
|
0.16961755 |
details, prediction |
Dogecoin
DOGE
|
0.28957254 |
details, prediction |
Monero
XMR
|
0.35190833 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.393278 |
details, prediction |
Dai
DAI
|
-0.2934049 |
details, prediction |
Ardor
ARDR
|
-0.01779605 |
details, prediction |
Verge
XVG
|
0.46468544 |
details, prediction |
USD//Coin
USDC
|
0.5094983 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.49611706 |
details, prediction |
BOScoin
BOS
|
-0.1182952 |
details, prediction |
Dero
DERO
|
0.046535376 |
details, prediction |
Constellation
DAG
|
0.07049112 |
details, prediction |
Komodo
KMD
|
0.24368852 |
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)