Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.51041657 |
details, prediction |
Monero
XMR
|
0.34223828 |
details, prediction |
Cardano
ADA
|
0.21308376 |
details, prediction |
TRON
TRX
|
0.18958518 |
details, prediction |
Stellar
XLM
|
0.1839093 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
0.8290758 |
details, prediction |
Decred
DCR
|
0.63746476 |
details, prediction |
Algorand
ALGO
|
0.57292855 |
details, prediction |
OriginTrail
TRAC
|
0.46335262 |
details, prediction |
Dai
DAI
|
0.42250127 |
details, prediction |
|
Third tier
|
Elastos
ELA
|
0.7256349 |
details, prediction |
SysCoin
SYS
|
0.71225196 |
details, prediction |
Ontology
ONT
|
0.6495869 |
details, prediction |
Wanchain
WAN
|
0.5891695 |
details, prediction |
Gas
GAS
|
0.58206075 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Verge 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 Verge
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
-0.017435087 |
details, prediction |
ChainLink
LINK
|
-0.016539121 |
details, prediction |
Crypto.com Chain
CRO
|
-3.959487E-4 |
details, prediction |
Bitcoin Cash
BCH
|
0.100886516 |
details, prediction |
KuCoin Shares
KCS
|
0.11879257 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.26437718 |
details, prediction |
USD//Coin
USDC
|
-0.06379403 |
details, prediction |
Chiliz
CHZ
|
-0.047852762 |
details, prediction |
Cosmos
ATOM
|
-0.044907935 |
details, prediction |
Theta
THETA
|
-0.042842146 |
details, prediction |
|
Third tier
|
NEM
XEM
|
-0.18992692 |
details, prediction |
Electroneum
ETN
|
0.07005914 |
details, prediction |
OPEN Platform
OPEN
|
0.081036866 |
details, prediction |
Constellation
DAG
|
0.08740448 |
details, prediction |
Streamr DATAcoin
DATA
|
0.14788489 |
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)