Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.7612784 |
details, prediction |
Ethereum Classic
ETC
|
0.5300695 |
details, prediction |
Dogecoin
DOGE
|
0.4476812 |
details, prediction |
KuCoin Shares
KCS
|
0.4450624 |
details, prediction |
Bitcoin Cash
BCH
|
0.24276473 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.9367481 |
details, prediction |
Ravencoin
RVN
|
0.93358916 |
details, prediction |
Zilliqa
ZIL
|
0.91508126 |
details, prediction |
aelf
ELF
|
0.89871913 |
details, prediction |
Telcoin
TEL
|
0.87555736 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.95392877 |
details, prediction |
Internet of Services
IOST
|
0.9325338 |
details, prediction |
Enjin Coin
ENJ
|
0.9107422 |
details, prediction |
SwftCoin
SWFTC
|
0.9004095 |
details, prediction |
ICON
ICX
|
0.8987479 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Waves 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 Waves
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
-0.65602905 |
details, prediction |
ChainLink
LINK
|
-0.5875231 |
details, prediction |
Ethereum
ETH
|
-0.57398856 |
details, prediction |
ZCash
ZEC
|
-0.48769185 |
details, prediction |
Bitcoin
BTC
|
-0.322968 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.7307428 |
details, prediction |
Dai
DAI
|
-0.6418984 |
details, prediction |
Bitcoin SV
BSV
|
-0.57001454 |
details, prediction |
Decred
DCR
|
-0.30554828 |
details, prediction |
HoloToken
HOT
|
-0.21460988 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.65136844 |
details, prediction |
Achain
ACT
|
-0.52580255 |
details, prediction |
Dent
DENT
|
-0.34843013 |
details, prediction |
Hydro Protocol
HOT
|
-0.23877485 |
details, prediction |
Propy
PRO
|
-0.19597396 |
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)