Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.69124365 |
details, prediction |
Ethereum
ETH
|
0.5361393 |
details, prediction |
Monero
XMR
|
0.50039446 |
details, prediction |
ChainLink
LINK
|
0.49988067 |
details, prediction |
KuCoin Shares
KCS
|
0.49806932 |
details, prediction |
|
Second tier
|
DASH
DASH
|
0.74768025 |
details, prediction |
Algorand
ALGO
|
0.72029686 |
details, prediction |
Bitcoin SV
BSV
|
0.6712837 |
details, prediction |
0x
ZRX
|
0.5805421 |
details, prediction |
Horizen
ZEN
|
0.5435432 |
details, prediction |
|
Third tier
|
Metal
MTL
|
0.7647542 |
details, prediction |
HEROcoin
PLAY
|
0.76426387 |
details, prediction |
Loopring
LRC
|
0.67974913 |
details, prediction |
OPEN Platform
OPEN
|
0.6489301 |
details, prediction |
Enjin Coin
ENJ
|
0.61602026 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ZCash 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 ZCash
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
-0.27831087 |
details, prediction |
Stellar
XLM
|
-0.20417911 |
details, prediction |
Cardano
ADA
|
-0.16527738 |
details, prediction |
Crypto.com Chain
CRO
|
-0.07886678 |
details, prediction |
UNUS SED LEO
LEO
|
-0.033548385 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5463464 |
details, prediction |
Verge
XVG
|
-0.48562667 |
details, prediction |
Decred
DCR
|
-0.36263824 |
details, prediction |
USD//Coin
USDC
|
-0.28187555 |
details, prediction |
IOTA
IOT
|
-0.27312636 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.6971607 |
details, prediction |
Dent
DENT
|
-0.63501966 |
details, prediction |
Wanchain
WAN
|
-0.59384704 |
details, prediction |
BABB
BAX
|
-0.5937905 |
details, prediction |
SysCoin
SYS
|
-0.3782933 |
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)