Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Cardano
ADA
|
0.9325473 |
details, prediction |
Bitcoin SV
BSV
|
0.9204828 |
details, prediction |
ChainLink
LINK
|
0.9137831 |
details, prediction |
Litecoin
LTC
|
0.90920407 |
details, prediction |
Stellar
XLM
|
0.90053225 |
details, prediction |
Second tier
|
Enjin Coin
ENJ
|
0.92471075 |
details, prediction |
Bancor
BNT
|
0.9167239 |
details, prediction |
IoTeX
IOTX
|
0.9117384 |
details, prediction |
Ocean Protocol
OCEAN
|
0.9063199 |
details, prediction |
XYO Network
XYO
|
0.9057368 |
details, prediction |
Third tier
|
Walton
WTC
|
0.9253865 |
details, prediction |
NKN
NKN
|
0.88634855 |
details, prediction |
Hydro Protocol
HOT
|
0.8860799 |
details, prediction |
WAX
WAX
|
0.8823398 |
details, prediction |
Kleros
PNK
|
0.8779721 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Telcoin 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 Telcoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.23616634 |
details, prediction |
Monero
XMR
|
-0.0010586322 |
details, prediction |
Waves
WAVES
|
0.26988137 |
details, prediction |
UNUS SED LEO
LEO
|
0.3947 |
details, prediction |
ZCash
ZEC
|
0.41626865 |
details, prediction |
Second tier
|
Dai
DAI
|
-0.714512 |
details, prediction |
USD//Coin
USDC
|
-0.702464 |
details, prediction |
Paxos Standard
PAX
|
-0.63638175 |
details, prediction |
True USD
TUSD
|
-0.44909343 |
details, prediction |
EthLend
LEND
|
-0.2987648 |
details, prediction |
Third tier
|
Envion
EVN
|
-0.70184726 |
details, prediction |
Time New Bank
TNB
|
-0.6381129 |
details, prediction |
ILCoin
ILC
|
-0.6286679 |
details, prediction |
FeatherCoin
FTC
|
-0.597778 |
details, prediction |
Quantum Resistant Ledger
QRL
|
-0.54225063 |
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)