Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.90100306 |
details, prediction |
ChainLink
LINK
|
0.89269483 |
details, prediction |
Cardano
ADA
|
0.8655833 |
details, prediction |
Litecoin
LTC
|
0.85636485 |
details, prediction |
Ethereum Classic
ETC
|
0.8480625 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.8618791 |
details, prediction |
Synthetix Network Token
SNX
|
0.8487367 |
details, prediction |
0x
ZRX
|
0.84243995 |
details, prediction |
QTUM
QTUM
|
0.8374549 |
details, prediction |
NEO
NEO
|
0.8367295 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.8803807 |
details, prediction |
Kyber Network
KNC
|
0.84184194 |
details, prediction |
Wanchain
WAN
|
0.83789515 |
details, prediction |
Storj
STORJ
|
0.8316516 |
details, prediction |
Civic
CVC
|
0.81083906 |
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
|
-0.5704492 |
details, prediction |
TRON
TRX
|
0.2696874 |
details, prediction |
ZCash
ZEC
|
0.29805735 |
details, prediction |
Binance Coin
BNB
|
0.7304573 |
details, prediction |
KuCoin Shares
KCS
|
0.7421452 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.73847395 |
details, prediction |
Dai
DAI
|
-0.65907604 |
details, prediction |
True USD
TUSD
|
-0.49947938 |
details, prediction |
Telcoin
TEL
|
0.1687667 |
details, prediction |
OriginTrail
TRAC
|
0.38341832 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.032428693 |
details, prediction |
Matrix AI Network
MAN
|
5.456744E-4 |
details, prediction |
V Systems
VSYS
|
0.15461433 |
details, prediction |
NKN
NKN
|
0.20578432 |
details, prediction |
Komodo
KMD
|
0.23377533 |
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)