Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Enjin Coin
ENJ
|
0.5470677 |
details, prediction |
TRON
TRX
|
0.54211074 |
details, prediction |
BitTorrent
BTT
|
0.5411776 |
details, prediction |
HoloToken
HOT
|
0.5185571 |
details, prediction |
QTUM
QTUM
|
0.5131357 |
details, prediction |
Second tier
|
True USD
TUSD
|
0.9839988 |
details, prediction |
Paxos Standard
PAX
|
0.96421677 |
details, prediction |
Dai
DAI
|
0.9144896 |
details, prediction |
MaidSafe Coin
MAID
|
0.53638387 |
details, prediction |
Bytom
BTM
|
0.53462625 |
details, prediction |
Third tier
|
Yggdrash
YEED
|
0.7590992 |
details, prediction |
CUBE
AUTO
|
0.69026905 |
details, prediction |
United Traders Token
UTT
|
0.6596474 |
details, prediction |
Eidoo
EDO
|
0.584096 |
details, prediction |
0chain
ZCN
|
0.57908064 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that USD//Coin 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 USD//Coin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
NEM
XEM
|
0.17015661 |
details, prediction |
Maker
MKR
|
0.19881806 |
details, prediction |
Stellar
XLM
|
0.28624865 |
details, prediction |
Bitcoin Cash
BCH
|
0.29518828 |
details, prediction |
Bitcoin SV
BSV
|
0.3021237 |
details, prediction |
Second tier
|
EthLend
LEND
|
0.035432808 |
details, prediction |
Loopring
LRC
|
0.17861842 |
details, prediction |
Synthetix Network Token
SNX
|
0.19253483 |
details, prediction |
HedgeTrade
HEDG
|
0.23364843 |
details, prediction |
Ethos (Bitquence)
BQX
|
0.2473248 |
details, prediction |
Third tier
|
Lina
LINA
|
-0.7077061 |
details, prediction |
DigiCube
CUBE
|
-0.6739603 |
details, prediction |
DADI
DADI
|
-0.44884422 |
details, prediction |
RubyCoin
RBY
|
-0.44112146 |
details, prediction |
Nimiq
NET
|
-0.40670457 |
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)