Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Dogecoin
DOGE
|
0.6604784 |
details, prediction |
Tezos
XTZ
|
0.46613905 |
details, prediction |
Monero
XMR
|
0.39050066 |
details, prediction |
Fantom
FTM
|
0.38540894 |
details, prediction |
Ethereum Classic
ETC
|
0.35919598 |
details, prediction |
Second tier
|
Waves
WAVES
|
0.51792616 |
details, prediction |
Metadium
META
|
0.51008373 |
details, prediction |
DASH
DASH
|
0.48370588 |
details, prediction |
Metal
MTL
|
0.4507947 |
details, prediction |
Stox
STX
|
0.448816 |
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
|
USD//Coin
USDC
|
-0.34122032 |
details, prediction |
ChainLink
LINK
|
-0.29590937 |
details, prediction |
Maker
MKR
|
-0.27131265 |
details, prediction |
XRP
XRP
|
-0.09037698 |
details, prediction |
TRON
TRX
|
0.05284114 |
details, prediction |
Second tier
|
Paxos Standard
PAX
|
-0.5692404 |
details, prediction |
Nexo
NEXO
|
-0.41499192 |
details, prediction |
True USD
TUSD
|
-0.32519364 |
details, prediction |
Basic Attention Token
BAT
|
-0.31797838 |
details, prediction |
Ravencoin
RVN
|
-0.3168839 |
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)