Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.5866735 |
details, prediction |
Cardano
ADA
|
0.542958 |
details, prediction |
Bitcoin Cash
BCH
|
0.5264233 |
details, prediction |
Ethereum Classic
ETC
|
0.4321473 |
details, prediction |
Binance Coin
BNB
|
0.41843176 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
0.6484932 |
details, prediction |
OriginTrail
TRAC
|
0.6259123 |
details, prediction |
Siacoin
SC
|
0.60983306 |
details, prediction |
Waves
WAVES
|
0.58726025 |
details, prediction |
Ardor
ARDR
|
0.58599746 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.6973044 |
details, prediction |
Elastos
ELA
|
0.6494464 |
details, prediction |
Stox
STX
|
0.63231444 |
details, prediction |
Dero
DERO
|
0.6294832 |
details, prediction |
Komodo
KMD
|
0.6210123 |
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
|
TRON
TRX
|
-0.43999997 |
details, prediction |
UNUS SED LEO
LEO
|
-0.10755609 |
details, prediction |
ZCash
ZEC
|
0.03083177 |
details, prediction |
Ethereum
ETH
|
0.18668993 |
details, prediction |
Bitcoin
BTC
|
0.1918083 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.15080707 |
details, prediction |
EOS
EOS
|
0.05402255 |
details, prediction |
Algorand
ALGO
|
0.17409386 |
details, prediction |
Bitcoin SV
BSV
|
0.17420271 |
details, prediction |
Chiliz
CHZ
|
0.19984539 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.42234454 |
details, prediction |
Ontology
ONT
|
-0.41629395 |
details, prediction |
Enjin Coin
ENJ
|
-0.3513651 |
details, prediction |
Kambria
KAT
|
-0.34645003 |
details, prediction |
HEROcoin
PLAY
|
-0.04265379 |
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)