Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.90119237 |
details, prediction |
XRP
XRP
|
0.88609874 |
details, prediction |
Binance Coin
BNB
|
0.87649214 |
details, prediction |
ZCash
ZEC
|
0.83416873 |
details, prediction |
Ethereum
ETH
|
0.7742068 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.8766253 |
details, prediction |
QTUM
QTUM
|
0.86450016 |
details, prediction |
0x
ZRX
|
0.84648335 |
details, prediction |
DASH
DASH
|
0.8436794 |
details, prediction |
Nexo
NEXO
|
0.8364765 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.890379 |
details, prediction |
Bancor
BNT
|
0.8670668 |
details, prediction |
Ontology
ONT
|
0.8515805 |
details, prediction |
Dent
DENT
|
0.8403753 |
details, prediction |
Gas
GAS
|
0.7860051 |
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
|
Stellar
XLM
|
0.27008444 |
details, prediction |
TRON
TRX
|
0.3736162 |
details, prediction |
KuCoin Shares
KCS
|
0.5141152 |
details, prediction |
Ethereum Classic
ETC
|
0.64383644 |
details, prediction |
Dogecoin
DOGE
|
0.662482 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.79243916 |
details, prediction |
USD//Coin
USDC
|
-0.3157396 |
details, prediction |
True USD
TUSD
|
-0.2626994 |
details, prediction |
Waves
WAVES
|
-0.09463801 |
details, prediction |
aelf
ELF
|
-0.0570423 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.61981916 |
details, prediction |
NKN
NKN
|
-0.43283656 |
details, prediction |
ICON
ICX
|
-0.3920957 |
details, prediction |
OPEN Platform
OPEN
|
-0.3124848 |
details, prediction |
Storj
STORJ
|
-0.21738146 |
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)