Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Vechain
VET
|
0.93240213 |
details, prediction |
Ethereum Classic
ETC
|
0.92921424 |
details, prediction |
FTX Token
FTT
|
0.92379034 |
details, prediction |
Cardano
ADA
|
0.9200041 |
details, prediction |
IOTA
IOT
|
0.91655535 |
details, prediction |
Second tier
|
DigiByte
DGB
|
0.9405794 |
details, prediction |
HoloToken
HOT
|
0.93361443 |
details, prediction |
Bitcoin Diamond
BCD
|
0.9307133 |
details, prediction |
Ravencoin
RVN
|
0.930172 |
details, prediction |
QTUM
QTUM
|
0.9223122 |
details, prediction |
Third tier
|
Matrix AI Network
MAN
|
0.9327745 |
details, prediction |
Switcheo Network
SWH
|
0.9279345 |
details, prediction |
Kleros
PNK
|
0.9255369 |
details, prediction |
NKN
NKN
|
0.9101971 |
details, prediction |
Hydro Protocol
HOT
|
0.90630597 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that The Hempcoin 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 The Hempcoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.48537546 |
details, prediction |
Monero
XMR
|
0.39250985 |
details, prediction |
KuCoin Shares
KCS
|
0.63572943 |
details, prediction |
Huobi Token
HT
|
0.64020973 |
details, prediction |
Dogecoin
DOGE
|
0.729713 |
details, prediction |
Second tier
|
USD//Coin
USDC
|
-0.8180061 |
details, prediction |
Dai
DAI
|
-0.76309574 |
details, prediction |
True USD
TUSD
|
-0.7283271 |
details, prediction |
Paxos Standard
PAX
|
-0.4271107 |
details, prediction |
EthLend
LEND
|
-0.33935717 |
details, prediction |
Third tier
|
Time New Bank
TNB
|
-0.8352654 |
details, prediction |
SunContract
SNC
|
-0.6433026 |
details, prediction |
ILCoin
ILC
|
-0.616725 |
details, prediction |
Envion
EVN
|
-0.58571476 |
details, prediction |
FeatherCoin
FTC
|
-0.53775716 |
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)