Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Binance Coin
BNB
|
0.7176274 |
details, prediction |
Cardano
ADA
|
0.6381432 |
details, prediction |
Crypto.com Chain
CRO
|
0.5726439 |
details, prediction |
Dogecoin
DOGE
|
0.5413569 |
details, prediction |
Ethereum Classic
ETC
|
0.5298156 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
0.7255676 |
details, prediction |
Telcoin
TEL
|
0.67195314 |
details, prediction |
Bitcoin Gold
BTG
|
0.6593157 |
details, prediction |
Synthetix Network Token
SNX
|
0.6073183 |
details, prediction |
Zilliqa
ZIL
|
0.54631346 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.9098765 |
details, prediction |
Komodo
KMD
|
0.87001234 |
details, prediction |
Matrix AI Network
MAN
|
0.7906891 |
details, prediction |
Chronobank
TIME
|
0.6724403 |
details, prediction |
Elastos
ELA
|
0.66611624 |
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
|
UNUS SED LEO
LEO
|
-0.7629578 |
details, prediction |
KuCoin Shares
KCS
|
-0.4078165 |
details, prediction |
TRON
TRX
|
-0.38255936 |
details, prediction |
Bitcoin Cash
BCH
|
-0.19092433 |
details, prediction |
Stellar
XLM
|
-0.127331 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.75017977 |
details, prediction |
USD//Coin
USDC
|
-0.6863448 |
details, prediction |
Dai
DAI
|
-0.40588686 |
details, prediction |
Ravencoin
RVN
|
-0.40305647 |
details, prediction |
Algorand
ALGO
|
-0.35012043 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.8337823 |
details, prediction |
LAToken
LA
|
-0.7504546 |
details, prediction |
Phantasma
SOUL
|
-0.64702755 |
details, prediction |
Gas
GAS
|
-0.5638702 |
details, prediction |
NKN
NKN
|
-0.5577473 |
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)