Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.92959636 |
details, prediction |
Stellar
XLM
|
0.9229941 |
details, prediction |
Ethereum
ETH
|
0.920324 |
details, prediction |
Bitcoin
BTC
|
0.9201286 |
details, prediction |
Litecoin
LTC
|
0.91073287 |
details, prediction |
|
Second tier
|
EOS
EOS
|
0.98225224 |
details, prediction |
DASH
DASH
|
0.90540844 |
details, prediction |
Request Network
REQ
|
0.8804624 |
details, prediction |
IOTA
IOT
|
0.8789211 |
details, prediction |
Theta Fuel
TFUEL
|
0.8709119 |
details, prediction |
|
Third tier
|
Kleros
PNK
|
0.9677054 |
details, prediction |
Streamr DATAcoin
DATA
|
0.95025885 |
details, prediction |
NKN
NKN
|
0.9155106 |
details, prediction |
ARK
ARK
|
0.9025303 |
details, prediction |
Internet of Services
IOST
|
0.8876974 |
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
|
TRON
TRX
|
-0.3925437 |
details, prediction |
Binance Coin
BNB
|
0.42042112 |
details, prediction |
Dogecoin
DOGE
|
0.45472446 |
details, prediction |
Bitcoin Cash
BCH
|
0.6211013 |
details, prediction |
XRP
XRP
|
0.6593452 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.4135533 |
details, prediction |
True USD
TUSD
|
-0.12198158 |
details, prediction |
Zilliqa
ZIL
|
-0.094816856 |
details, prediction |
Decred
DCR
|
-0.018038342 |
details, prediction |
Verge
XVG
|
0.24722305 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
-0.8368553 |
details, prediction |
HEROcoin
PLAY
|
-0.5561917 |
details, prediction |
Dero
DERO
|
-0.113723025 |
details, prediction |
BOScoin
BOS
|
0.20501491 |
details, prediction |
Stox
STX
|
0.35190833 |
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)