Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.6604784 |
details, prediction |
Monero
XMR
|
0.39050066 |
details, prediction |
Fantom
FTM
|
0.38540894 |
details, prediction |
Ethereum Classic
ETC
|
0.35919598 |
details, prediction |
Litecoin
LTC
|
0.3420744 |
details, prediction |
|
Second tier
|
Waves
WAVES
|
0.51792616 |
details, prediction |
Metadium
META
|
0.51008373 |
details, prediction |
DASH
DASH
|
0.48370588 |
details, prediction |
Tezos
XTZ
|
0.46613905 |
details, prediction |
HoloToken
HOT
|
0.44700328 |
details, prediction |
|
Third tier
|
EdenChain
EDN
|
0.8662889 |
details, prediction |
Presearch
PRE
|
0.8089222 |
details, prediction |
FedoraCoin
TIPS
|
0.7275184 |
details, prediction |
Rotharium
RTH
|
0.69583803 |
details, prediction |
OneRoot Network
RNT
|
0.6724274 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Webcoin 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 Webcoin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
-0.29590937 |
details, prediction |
Maker
MKR
|
-0.27131265 |
details, prediction |
XRP
XRP
|
-0.09037698 |
details, prediction |
TRON
TRX
|
0.05284114 |
details, prediction |
Stellar
XLM
|
0.10719204 |
details, prediction |
|
Second tier
|
Paxos Standard
PAX
|
-0.5692404 |
details, prediction |
Nexo
NEXO
|
-0.41499192 |
details, prediction |
USD//Coin
USDC
|
-0.34122032 |
details, prediction |
True USD
TUSD
|
-0.32519364 |
details, prediction |
Basic Attention Token
BAT
|
-0.31797838 |
details, prediction |
|
Third tier
|
Global Cryptocurrency
GCC
|
-0.6414493 |
details, prediction |
Darico
DEC
|
-0.64072394 |
details, prediction |
Nasdacoin
NSD
|
-0.6134222 |
details, prediction |
Dreamscape
DSC
|
-0.6123315 |
details, prediction |
Dero
DERO
|
-0.54309785 |
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)