Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
ChainLink
LINK
|
0.91371 |
details, prediction |
Fantom
FTM
|
0.8688278 |
details, prediction |
TRON
TRX
|
0.8626348 |
details, prediction |
Stellar
XLM
|
0.83097804 |
details, prediction |
NEO
NEO
|
0.8236212 |
details, prediction |
Second tier
|
Loopring
LRC
|
0.93254256 |
details, prediction |
Cortex
CTXC
|
0.91797525 |
details, prediction |
OmiseGo
OMG
|
0.89258724 |
details, prediction |
Steem
STEEM
|
0.87876046 |
details, prediction |
Gas
GAS
|
0.87861156 |
details, prediction |
Third tier
|
Change
CAG
|
0.9767214 |
details, prediction |
SmartMesh
SMT
|
0.9673349 |
details, prediction |
Copytrack
CPY
|
0.9503977 |
details, prediction |
Universa
UTNP
|
0.9502701 |
details, prediction |
CyberMiles
CMT
|
0.94705063 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that TeslaCoin 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 TeslaCoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Binance Coin
BNB
|
-0.6726213 |
details, prediction |
Tezos
XTZ
|
-0.5879321 |
details, prediction |
KuCoin Shares
KCS
|
-0.108858295 |
details, prediction |
Bitcoin
BTC
|
-0.05864716 |
details, prediction |
USD//Coin
USDC
|
-0.04147321 |
details, prediction |
Second tier
|
Dai
DAI
|
-0.7603025 |
details, prediction |
Basic Attention Token
BAT
|
-0.608088 |
details, prediction |
Digix DAO
DGD
|
-0.5748952 |
details, prediction |
MonaCoin
MONA
|
-0.5668026 |
details, prediction |
Telcoin
TEL
|
-0.32244363 |
details, prediction |
Third tier
|
Token as a Service
TAAS
|
-0.715716 |
details, prediction |
Envion
EVN
|
-0.6993936 |
details, prediction |
Eternal token
XET
|
-0.64755595 |
details, prediction |
Buggyra Coin Zero
BCZERO
|
-0.6140407 |
details, prediction |
Golos
GOLOS
|
-0.6108377 |
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)