Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.9313007 |
details, prediction |
Binance Coin
BNB
|
0.9132716 |
details, prediction |
Ethereum
ETH
|
0.9073953 |
details, prediction |
ZCash
ZEC
|
0.8867642 |
details, prediction |
Bitcoin
BTC
|
0.87690294 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.82951844 |
details, prediction |
Bitcoin SV
BSV
|
0.80636126 |
details, prediction |
DigiByte
DGB
|
0.7923659 |
details, prediction |
Horizen
ZEN
|
0.77751446 |
details, prediction |
Decred
DCR
|
0.7534365 |
details, prediction |
|
Third tier
|
Dent
DENT
|
0.76892865 |
details, prediction |
Bancor
BNT
|
0.76410615 |
details, prediction |
V Systems
VSYS
|
0.6180838 |
details, prediction |
Stox
STX
|
0.61015785 |
details, prediction |
Ontology
ONT
|
0.54009044 |
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
|
-0.37742054 |
details, prediction |
KuCoin Shares
KCS
|
0.09189647 |
details, prediction |
TRON
TRX
|
0.2360271 |
details, prediction |
Ethereum Classic
ETC
|
0.2546754 |
details, prediction |
Dogecoin
DOGE
|
0.3425813 |
details, prediction |
|
Second tier
|
aelf
ELF
|
-0.8066829 |
details, prediction |
Ravencoin
RVN
|
-0.7881643 |
details, prediction |
Waves
WAVES
|
-0.7355874 |
details, prediction |
USD//Coin
USDC
|
-0.65122086 |
details, prediction |
True USD
TUSD
|
-0.6362512 |
details, prediction |
|
Third tier
|
ICON
ICX
|
-0.91303986 |
details, prediction |
Matrix AI Network
MAN
|
-0.8654387 |
details, prediction |
Storj
STORJ
|
-0.85753065 |
details, prediction |
PIVX
PIVX
|
-0.71948546 |
details, prediction |
SwftCoin
SWFTC
|
-0.61708564 |
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)