Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
IOTA
IOT
|
0.9744217 |
details, prediction |
Maker
MKR
|
0.96738636 |
details, prediction |
ChainLink
LINK
|
0.9649932 |
details, prediction |
Matic Network
MATIC
|
0.9598174 |
details, prediction |
NEO
NEO
|
0.9594778 |
details, prediction |
Second tier
|
Theta Fuel
TFUEL
|
0.9769079 |
details, prediction |
XYO Network
XYO
|
0.9695736 |
details, prediction |
IoTeX
IOTX
|
0.9686313 |
details, prediction |
Fantom
FTM
|
0.9627342 |
details, prediction |
Power Ledger
POWR
|
0.95954365 |
details, prediction |
Third tier
|
Walton
WTC
|
0.9774036 |
details, prediction |
Mainframe
MFT
|
0.9676321 |
details, prediction |
Stox
STX
|
0.95595807 |
details, prediction |
eosDAC
EOSDAC
|
0.9551736 |
details, prediction |
Bitshares
BTS
|
0.94846994 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that WAX 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 WAX
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.728581 |
details, prediction |
Huobi Token
HT
|
0.25964206 |
details, prediction |
Monero
XMR
|
0.39819527 |
details, prediction |
Dogecoin
DOGE
|
0.5349546 |
details, prediction |
EOS
EOS
|
0.76963437 |
details, prediction |
Second tier
|
Dai
DAI
|
-0.94951713 |
details, prediction |
USD//Coin
USDC
|
-0.92519754 |
details, prediction |
Paxos Standard
PAX
|
-0.8739276 |
details, prediction |
Propy
PRO
|
-0.4550834 |
details, prediction |
Steem
STEEM
|
-0.15955213 |
details, prediction |
Third tier
|
SunContract
SNC
|
-0.90002227 |
details, prediction |
ILCoin
ILC
|
-0.88318664 |
details, prediction |
FeatherCoin
FTC
|
-0.8659281 |
details, prediction |
Energi
NRG
|
-0.8177311 |
details, prediction |
Starbase
STAR
|
-0.8026269 |
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)