Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.9634398 |
details, prediction |
XRP
XRP
|
0.96129817 |
details, prediction |
Cardano
ADA
|
0.95205045 |
details, prediction |
Ethereum Classic
ETC
|
0.94743925 |
details, prediction |
Bitcoin
BTC
|
0.9392184 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.98391193 |
details, prediction |
Ravencoin
RVN
|
0.9830996 |
details, prediction |
Theta Fuel
TFUEL
|
0.9822628 |
details, prediction |
Vechain
VET
|
0.9769266 |
details, prediction |
Tezos
XTZ
|
0.97611463 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.9867401 |
details, prediction |
ICON
ICX
|
0.98302984 |
details, prediction |
Civic
CVC
|
0.98043877 |
details, prediction |
Lisk
LSK
|
0.979697 |
details, prediction |
ARK
ARK
|
0.97955805 |
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
|
Stellar
XLM
|
-0.55778736 |
details, prediction |
TRON
TRX
|
0.050381098 |
details, prediction |
ZCash
ZEC
|
0.0771528 |
details, prediction |
Binance Coin
BNB
|
0.72405255 |
details, prediction |
Monero
XMR
|
0.79115504 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.91993755 |
details, prediction |
Dai
DAI
|
-0.86761105 |
details, prediction |
True USD
TUSD
|
-0.5977274 |
details, prediction |
OriginTrail
TRAC
|
0.29686016 |
details, prediction |
Telcoin
TEL
|
0.3293242 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.17783406 |
details, prediction |
Propy
PRO
|
-0.17187852 |
details, prediction |
Matrix AI Network
MAN
|
-0.12593734 |
details, prediction |
Phantasma
SOUL
|
0.05128711 |
details, prediction |
Constellation
DAG
|
0.35902923 |
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)