Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.74511755 |
details, prediction |
Ethereum Classic
ETC
|
0.6702588 |
details, prediction |
Dogecoin
DOGE
|
0.5609806 |
details, prediction |
KuCoin Shares
KCS
|
0.3799519 |
details, prediction |
Bitcoin Cash
BCH
|
0.37827685 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.8071609 |
details, prediction |
Basic Attention Token
BAT
|
0.7883942 |
details, prediction |
Crypto.com Chain
CRO
|
0.78242505 |
details, prediction |
Zilliqa
ZIL
|
0.77777433 |
details, prediction |
NEO
NEO
|
0.77745897 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.8587854 |
details, prediction |
PIVX
PIVX
|
0.8108704 |
details, prediction |
ARK
ARK
|
0.8002013 |
details, prediction |
Power Ledger
POWR
|
0.785202 |
details, prediction |
Kyber Network
KNC
|
0.7809705 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Tezos 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 Tezos
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
-0.23226723 |
details, prediction |
Ethereum
ETH
|
-0.117308795 |
details, prediction |
ChainLink
LINK
|
-0.09091746 |
details, prediction |
Cardano
ADA
|
-0.09040594 |
details, prediction |
TRON
TRX
|
-0.05459772 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5997138 |
details, prediction |
DigiByte
DGB
|
-0.51722777 |
details, prediction |
Decred
DCR
|
-0.2115482 |
details, prediction |
Bitcoin SV
BSV
|
-0.13566683 |
details, prediction |
HoloToken
HOT
|
0.06487529 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.49794874 |
details, prediction |
V Systems
VSYS
|
-0.4383361 |
details, prediction |
AdEx
ADX
|
-0.16084248 |
details, prediction |
Propy
PRO
|
-0.06383708 |
details, prediction |
OPEN Platform
OPEN
|
0.023352385 |
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)