Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.8636217 |
details, prediction |
Bitcoin Cash
BCH
|
0.8559118 |
details, prediction |
KuCoin Shares
KCS
|
0.8553047 |
details, prediction |
Ethereum Classic
ETC
|
0.8345827 |
details, prediction |
Cardano
ADA
|
0.8219806 |
details, prediction |
|
Second tier
|
Siacoin
SC
|
0.9863924 |
details, prediction |
Status
SNT
|
0.9828874 |
details, prediction |
Loopring
LRC
|
0.9824874 |
details, prediction |
iEx.ec
RLC
|
0.9797883 |
details, prediction |
Request Network
REQ
|
0.9787651 |
details, prediction |
|
Third tier
|
IoTeX
IOTX
|
0.9726218 |
details, prediction |
Kyber Network
KNC
|
0.9710066 |
details, prediction |
AdEx
ADX
|
0.9639442 |
details, prediction |
ICON
ICX
|
0.96188647 |
details, prediction |
Storj
STORJ
|
0.96179444 |
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
|
TRON
TRX
|
-0.2506531 |
details, prediction |
UNUS SED LEO
LEO
|
0.19959456 |
details, prediction |
Binance Coin
BNB
|
0.46371862 |
details, prediction |
Dogecoin
DOGE
|
0.65218323 |
details, prediction |
XRP
XRP
|
0.6893353 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.3506496 |
details, prediction |
Dai
DAI
|
-0.296645 |
details, prediction |
True USD
TUSD
|
0.15103671 |
details, prediction |
Verge
XVG
|
0.3628765 |
details, prediction |
Zilliqa
ZIL
|
0.44567865 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.31386238 |
details, prediction |
HEROcoin
PLAY
|
0.014341813 |
details, prediction |
Constellation
DAG
|
0.031580754 |
details, prediction |
Dent
DENT
|
0.1030101 |
details, prediction |
Dero
DERO
|
0.1635487 |
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)