Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
0.9260909 |
details, prediction |
Bitcoin
BTC
|
0.8499441 |
details, prediction |
Dogecoin
DOGE
|
0.84148186 |
details, prediction |
ChainLink
LINK
|
0.7212504 |
details, prediction |
ZCash
ZEC
|
0.70042044 |
details, prediction |
|
Second tier
|
Cosmos
ATOM
|
0.84797317 |
details, prediction |
Horizen
ZEN
|
0.7795299 |
details, prediction |
Theta
THETA
|
0.77222586 |
details, prediction |
DASH
DASH
|
0.7683078 |
details, prediction |
Synthetix Network Token
SNX
|
0.66907954 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.85931045 |
details, prediction |
Bancor
BNT
|
0.84634435 |
details, prediction |
Storj
STORJ
|
0.67798096 |
details, prediction |
Chronobank
TIME
|
0.66243994 |
details, prediction |
OPEN Platform
OPEN
|
0.5645529 |
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
|
-0.17771856 |
details, prediction |
Bitcoin Cash
BCH
|
-0.06905797 |
details, prediction |
Crypto.com Chain
CRO
|
-0.05789714 |
details, prediction |
KuCoin Shares
KCS
|
0.16924328 |
details, prediction |
Cardano
ADA
|
0.25019178 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.57560635 |
details, prediction |
Verge
XVG
|
-0.5115895 |
details, prediction |
USD//Coin
USDC
|
-0.45929572 |
details, prediction |
Decred
DCR
|
-0.28703183 |
details, prediction |
Ardor
ARDR
|
-0.17755476 |
details, prediction |
|
Third tier
|
Dent
DENT
|
-0.56934005 |
details, prediction |
Phantasma
SOUL
|
-0.49378294 |
details, prediction |
NKN
NKN
|
-0.46359986 |
details, prediction |
FunFair
FUN
|
-0.42754343 |
details, prediction |
PIVX
PIVX
|
-0.42597026 |
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)