Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
KuCoin Shares
KCS
|
0.883995 |
details, prediction |
Bitcoin Cash
BCH
|
0.8608449 |
details, prediction |
Cardano
ADA
|
0.85781914 |
details, prediction |
Ethereum Classic
ETC
|
0.8245324 |
details, prediction |
Crypto.com Chain
CRO
|
0.78435636 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.9558725 |
details, prediction |
Basic Attention Token
BAT
|
0.9521167 |
details, prediction |
QTUM
QTUM
|
0.9381618 |
details, prediction |
Status
SNT
|
0.9216947 |
details, prediction |
IOTA
IOT
|
0.9069603 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.9603552 |
details, prediction |
Internet of Services
IOST
|
0.9241316 |
details, prediction |
ICON
ICX
|
0.9152921 |
details, prediction |
Power Ledger
POWR
|
0.9128583 |
details, prediction |
Civic
CVC
|
0.9054455 |
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
|
-0.6614512 |
details, prediction |
UNUS SED LEO
LEO
|
-0.18364553 |
details, prediction |
ZCash
ZEC
|
0.045953874 |
details, prediction |
Ethereum
ETH
|
0.12918088 |
details, prediction |
Bitcoin
BTC
|
0.20762911 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
-0.40527305 |
details, prediction |
Decred
DCR
|
-0.2549538 |
details, prediction |
HoloToken
HOT
|
0.03150951 |
details, prediction |
Bitcoin SV
BSV
|
0.055605073 |
details, prediction |
Algorand
ALGO
|
0.056388654 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.4828807 |
details, prediction |
V Systems
VSYS
|
-0.4237726 |
details, prediction |
OPEN Platform
OPEN
|
-0.28862315 |
details, prediction |
Enjin Coin
ENJ
|
-0.23461024 |
details, prediction |
Propy
PRO
|
-0.22790751 |
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)