Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
USD//Coin
USDC
|
0.5582995 |
details, prediction |
ChainLink
LINK
|
0.50599575 |
details, prediction |
KuCoin Shares
KCS
|
0.37715816 |
details, prediction |
Cosmos
ATOM
|
0.34107035 |
details, prediction |
Bitcoin SV
BSV
|
0.32477164 |
details, prediction |
Second tier
|
QTUM
QTUM
|
0.7434189 |
details, prediction |
Ardor
ARDR
|
0.69166684 |
details, prediction |
Zilliqa
ZIL
|
0.6323785 |
details, prediction |
Bitcoin Gold
BTG
|
0.6322175 |
details, prediction |
Storj
STORJ
|
0.5695882 |
details, prediction |
Third tier
|
QLINK
QLC
|
0.62913275 |
details, prediction |
AdEx
ADX
|
0.6058383 |
details, prediction |
Ambrosus
AMB
|
0.60213315 |
details, prediction |
Mobius
MOBI
|
0.5578193 |
details, prediction |
Metal
MTL
|
0.51020193 |
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
|
Ethereum Classic
ETC
|
-0.5644544 |
details, prediction |
Bitcoin Cash
BCH
|
-0.26793036 |
details, prediction |
Ethereum
ETH
|
-0.17024858 |
details, prediction |
Theta
THETA
|
-0.16769771 |
details, prediction |
Dogecoin
DOGE
|
-0.15287152 |
details, prediction |
Second tier
|
True USD
TUSD
|
-0.68908703 |
details, prediction |
NEM
XEM
|
-0.68680143 |
details, prediction |
Lisk
LSK
|
-0.53948903 |
details, prediction |
Dai
DAI
|
-0.406776 |
details, prediction |
Telcoin
TEL
|
-0.37778223 |
details, prediction |
Third tier
|
Gemini Dollar
GUSD
|
-0.7064709 |
details, prediction |
Aeternity
AE
|
-0.26500255 |
details, prediction |
Nuls
NULS
|
-0.23900968 |
details, prediction |
Bytom
BTM
|
-0.16260415 |
details, prediction |
Cortex
CTXC
|
-0.14066061 |
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)