Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Litecoin
LTC
|
0.7616871 |
details, prediction |
XRP
XRP
|
0.7571605 |
details, prediction |
Binance Coin
BNB
|
0.7384271 |
details, prediction |
KuCoin Shares
KCS
|
0.7019826 |
details, prediction |
ChainLink
LINK
|
0.6343842 |
details, prediction |
|
Second tier
|
aelf
ELF
|
0.672083 |
details, prediction |
Bitcoin Gold
BTG
|
0.6143332 |
details, prediction |
Telcoin
TEL
|
0.6094276 |
details, prediction |
Synthetix Network Token
SNX
|
0.57173085 |
details, prediction |
Status
SNT
|
0.5501728 |
details, prediction |
|
Third tier
|
Chronobank
TIME
|
0.66474575 |
details, prediction |
SingularityNET
AGI
|
0.64977807 |
details, prediction |
SwftCoin
SWFTC
|
0.611929 |
details, prediction |
Phantasma
SOUL
|
0.52011144 |
details, prediction |
Lisk
LSK
|
0.50996506 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Stellar 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 Stellar
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
-0.20417911 |
details, prediction |
TRON
TRX
|
-0.1460062 |
details, prediction |
Bitcoin Cash
BCH
|
0.2277713 |
details, prediction |
Dogecoin
DOGE
|
0.26446417 |
details, prediction |
Bitcoin
BTC
|
0.3953662 |
details, prediction |
|
Second tier
|
Algorand
ALGO
|
-0.11771222 |
details, prediction |
Nexo
NEXO
|
-0.09090422 |
details, prediction |
Decred
DCR
|
0.033823956 |
details, prediction |
Zilliqa
ZIL
|
0.0787317 |
details, prediction |
Bitcoin SV
BSV
|
0.0899824 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.2550484 |
details, prediction |
Ontology
ONT
|
-0.13066384 |
details, prediction |
Dent
DENT
|
-0.084013194 |
details, prediction |
Enjin Coin
ENJ
|
-0.064889714 |
details, prediction |
FunFair
FUN
|
0.050873112 |
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)