Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Stellar
XLM
|
0.98754036 |
details, prediction |
NEO
NEO
|
0.98667806 |
details, prediction |
IOTA
IOT
|
0.98281413 |
details, prediction |
ChainLink
LINK
|
0.9822818 |
details, prediction |
Matic Network
MATIC
|
0.97967863 |
details, prediction |
Second tier
|
OmiseGo
OMG
|
0.98887014 |
details, prediction |
Horizen
ZEN
|
0.98553187 |
details, prediction |
IoTeX
IOTX
|
0.9842398 |
details, prediction |
Ravencoin
RVN
|
0.98386806 |
details, prediction |
DASH
DASH
|
0.9837362 |
details, prediction |
Third tier
|
Bitshares
BTS
|
0.9843363 |
details, prediction |
Stox
STX
|
0.98135877 |
details, prediction |
NKN
NKN
|
0.9765345 |
details, prediction |
Matrix AI Network
MAN
|
0.97397876 |
details, prediction |
Dock.io
DOCK
|
0.9726084 |
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
|
TRON
TRX
|
-0.36439788 |
details, prediction |
Monero
XMR
|
0.698851 |
details, prediction |
KuCoin Shares
KCS
|
0.85584795 |
details, prediction |
Huobi Token
HT
|
0.8759881 |
details, prediction |
Dogecoin
DOGE
|
0.8851301 |
details, prediction |
Second tier
|
USD//Coin
USDC
|
-0.6563854 |
details, prediction |
True USD
TUSD
|
-0.65072477 |
details, prediction |
Dai
DAI
|
-0.6037943 |
details, prediction |
Paxos Standard
PAX
|
-0.44199145 |
details, prediction |
EthLend
LEND
|
-0.38157913 |
details, prediction |
Third tier
|
Time New Bank
TNB
|
-0.87500113 |
details, prediction |
FeatherCoin
FTC
|
-0.652218 |
details, prediction |
Gemini Dollar
GUSD
|
-0.64924556 |
details, prediction |
ILCoin
ILC
|
-0.64015734 |
details, prediction |
Envion
EVN
|
-0.5959132 |
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)