Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.96555054 |
details, prediction |
Binance Coin
BNB
|
0.9360535 |
details, prediction |
Bitcoin
BTC
|
0.91180146 |
details, prediction |
Monero
XMR
|
0.9015899 |
details, prediction |
Litecoin
LTC
|
0.8994205 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.9495428 |
details, prediction |
0x
ZRX
|
0.9458826 |
details, prediction |
QTUM
QTUM
|
0.9413387 |
details, prediction |
Theta
THETA
|
0.92799616 |
details, prediction |
Theta Fuel
TFUEL
|
0.92761564 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.93349767 |
details, prediction |
Gas
GAS
|
0.8771914 |
details, prediction |
QuarkChain
QKC
|
0.870466 |
details, prediction |
Kyber Network
KNC
|
0.8547476 |
details, prediction |
Steem
STEEM
|
0.85299253 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Vechain 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 Vechain
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.22668871 |
details, prediction |
Stellar
XLM
|
0.23984307 |
details, prediction |
KuCoin Shares
KCS
|
0.24927972 |
details, prediction |
Bitcoin Cash
BCH
|
0.69979614 |
details, prediction |
Ethereum Classic
ETC
|
0.8029712 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.7453908 |
details, prediction |
USD//Coin
USDC
|
-0.629552 |
details, prediction |
True USD
TUSD
|
-0.6002859 |
details, prediction |
Dai
DAI
|
-0.5482412 |
details, prediction |
aelf
ELF
|
-0.52935797 |
details, prediction |
|
Third tier
|
ICON
ICX
|
-0.7889635 |
details, prediction |
Matrix AI Network
MAN
|
-0.788379 |
details, prediction |
Storj
STORJ
|
-0.6554895 |
details, prediction |
OPEN Platform
OPEN
|
-0.6394091 |
details, prediction |
NKN
NKN
|
-0.59141743 |
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)