Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.72008646 |
details, prediction |
ChainLink
LINK
|
0.43101755 |
details, prediction |
Binance Coin
BNB
|
0.40432492 |
details, prediction |
Monero
XMR
|
0.33221546 |
details, prediction |
Ethereum Classic
ETC
|
0.3098845 |
details, prediction |
|
Second tier
|
DASH
DASH
|
0.53426355 |
details, prediction |
OriginTrail
TRAC
|
0.4145224 |
details, prediction |
Telcoin
TEL
|
0.37834805 |
details, prediction |
DigiByte
DGB
|
0.25672266 |
details, prediction |
QTUM
QTUM
|
0.24190228 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
0.68147063 |
details, prediction |
V Systems
VSYS
|
0.6366018 |
details, prediction |
Dero
DERO
|
0.49970412 |
details, prediction |
Bancor
BNT
|
0.39962912 |
details, prediction |
Storj
STORJ
|
0.28452846 |
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
|
Stellar
XLM
|
-0.08300601 |
details, prediction |
KuCoin Shares
KCS
|
-0.027171029 |
details, prediction |
Bitcoin Cash
BCH
|
0.032117948 |
details, prediction |
Dogecoin
DOGE
|
0.15219237 |
details, prediction |
XRP
XRP
|
0.1522516 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.2876613 |
details, prediction |
Bitcoin Gold
BTG
|
-0.05922719 |
details, prediction |
Ardor
ARDR
|
-0.04553232 |
details, prediction |
Chiliz
CHZ
|
0.024514422 |
details, prediction |
Request Network
REQ
|
0.031226477 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.61421597 |
details, prediction |
OPEN Platform
OPEN
|
-0.45288557 |
details, prediction |
LAToken
LA
|
-0.36429235 |
details, prediction |
Dent
DENT
|
-0.31476715 |
details, prediction |
Kambria
KAT
|
-0.3003946 |
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)