Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.8751335 |
details, prediction |
Dogecoin
DOGE
|
0.86874205 |
details, prediction |
ChainLink
LINK
|
0.8426232 |
details, prediction |
Ethereum Classic
ETC
|
0.79964674 |
details, prediction |
Binance Coin
BNB
|
0.74425244 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.84310824 |
details, prediction |
Theta
THETA
|
0.84097904 |
details, prediction |
Cosmos
ATOM
|
0.83128476 |
details, prediction |
Synthetix Network Token
SNX
|
0.8133005 |
details, prediction |
FTX Token
FTT
|
0.7902597 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.87947464 |
details, prediction |
Kyber Network
KNC
|
0.8384949 |
details, prediction |
Storj
STORJ
|
0.8036 |
details, prediction |
Stox
STX
|
0.78537136 |
details, prediction |
Chronobank
TIME
|
0.7802863 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Monero 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 Monero
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.4502085 |
details, prediction |
TRON
TRX
|
0.32803667 |
details, prediction |
ZCash
ZEC
|
0.45140862 |
details, prediction |
Bitcoin Cash
BCH
|
0.6180731 |
details, prediction |
KuCoin Shares
KCS
|
0.6423484 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.73913616 |
details, prediction |
Dai
DAI
|
-0.66501135 |
details, prediction |
True USD
TUSD
|
-0.26547763 |
details, prediction |
Telcoin
TEL
|
0.23543662 |
details, prediction |
Verge
XVG
|
0.34264073 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.778154 |
details, prediction |
Komodo
KMD
|
-0.5301192 |
details, prediction |
Propy
PRO
|
-0.010370409 |
details, prediction |
Dent
DENT
|
0.018460505 |
details, prediction |
NKN
NKN
|
0.03548842 |
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)