Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Dogecoin
DOGE
|
0.9489361 |
details, prediction |
Vechain
VET
|
0.9212143 |
details, prediction |
NEO
NEO
|
0.91152316 |
details, prediction |
Ethereum Classic
ETC
|
0.91123295 |
details, prediction |
SONM
SNM
|
0.9061896 |
details, prediction |
Second tier
|
ICON
ICX
|
0.9408299 |
details, prediction |
ARK
ARK
|
0.9333482 |
details, prediction |
Siacoin
SC
|
0.9319762 |
details, prediction |
Verge
XVG
|
0.9318854 |
details, prediction |
Polymath Network
POLY
|
0.93080825 |
details, prediction |
Third tier
|
Ubex
UBEX
|
0.9475766 |
details, prediction |
BitcoinZ
BTCZ
|
0.9400017 |
details, prediction |
carVertical
CV
|
0.93958336 |
details, prediction |
EdenChain
EDN
|
0.9388989 |
details, prediction |
Distributed Credit Chain
DCC
|
0.93743396 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Ubcoin 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 Ubcoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
USD//Coin
USDC
|
0.058849115 |
details, prediction |
TRON
TRX
|
0.19187748 |
details, prediction |
Bitcoin SV
BSV
|
0.45491904 |
details, prediction |
ChainLink
LINK
|
0.46272844 |
details, prediction |
XRP
XRP
|
0.7847824 |
details, prediction |
Second tier
|
Waves
WAVES
|
-0.31538737 |
details, prediction |
Paxos Standard
PAX
|
-0.13201736 |
details, prediction |
XYO Network
XYO
|
-0.12895878 |
details, prediction |
Dai
DAI
|
-0.055348504 |
details, prediction |
True USD
TUSD
|
0.03516067 |
details, prediction |
Third tier
|
Dreamscape
DSC
|
-0.5864735 |
details, prediction |
Factom
FCT
|
-0.56577873 |
details, prediction |
CWV Chain
CWV
|
-0.56558895 |
details, prediction |
Chainium
CHX
|
-0.5380764 |
details, prediction |
AMLT Token
AMLT
|
-0.52680045 |
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)