Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.44866243 |
details, prediction |
Monero
XMR
|
0.25586995 |
details, prediction |
Cardano
ADA
|
0.22738528 |
details, prediction |
Stellar
XLM
|
0.19345742 |
details, prediction |
ZCash
ZEC
|
0.19026674 |
details, prediction |
|
Second tier
|
Algorand
ALGO
|
0.47727472 |
details, prediction |
DigiByte
DGB
|
0.46065065 |
details, prediction |
OriginTrail
TRAC
|
0.45382372 |
details, prediction |
aelf
ELF
|
0.3929178 |
details, prediction |
Dai
DAI
|
0.39202964 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.5748031 |
details, prediction |
Dero
DERO
|
0.57205486 |
details, prediction |
Wanchain
WAN
|
0.5379243 |
details, prediction |
Elastos
ELA
|
0.51396984 |
details, prediction |
Ontology
ONT
|
0.48771107 |
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
|
UNUS SED LEO
LEO
|
-0.09235932 |
details, prediction |
Crypto.com Chain
CRO
|
0.054745894 |
details, prediction |
ChainLink
LINK
|
0.05564312 |
details, prediction |
XRP
XRP
|
0.0890134 |
details, prediction |
TRON
TRX
|
0.15400492 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.18546954 |
details, prediction |
USD//Coin
USDC
|
0.012010559 |
details, prediction |
Cosmos
ATOM
|
0.013710058 |
details, prediction |
Chiliz
CHZ
|
0.01640091 |
details, prediction |
Theta
THETA
|
0.019449804 |
details, prediction |
|
Third tier
|
NEM
XEM
|
-0.12651204 |
details, prediction |
Kleros
PNK
|
-0.03783842 |
details, prediction |
BABB
BAX
|
0.08372693 |
details, prediction |
OPEN Platform
OPEN
|
0.11366038 |
details, prediction |
Dent
DENT
|
0.1255092 |
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)