Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.941505 |
details, prediction |
ChainLink
LINK
|
0.92768204 |
details, prediction |
Bitcoin
BTC
|
0.924879 |
details, prediction |
Monero
XMR
|
0.85801685 |
details, prediction |
Binance Coin
BNB
|
0.84336627 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.83416873 |
details, prediction |
Bitcoin SV
BSV
|
0.80579454 |
details, prediction |
DASH
DASH
|
0.73849106 |
details, prediction |
QTUM
QTUM
|
0.73077434 |
details, prediction |
Horizen
ZEN
|
0.7214107 |
details, prediction |
|
Third tier
|
Dent
DENT
|
0.83847666 |
details, prediction |
Bancor
BNT
|
0.80227005 |
details, prediction |
SysCoin
SYS
|
0.66886854 |
details, prediction |
Stox
STX
|
0.6664816 |
details, prediction |
Hydro Protocol
HOT
|
0.66555977 |
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
|
-0.060592137 |
details, prediction |
KuCoin Shares
KCS
|
0.32828504 |
details, prediction |
Dogecoin
DOGE
|
0.3476358 |
details, prediction |
Ethereum Classic
ETC
|
0.35591054 |
details, prediction |
TRON
TRX
|
0.40677634 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.51377875 |
details, prediction |
Waves
WAVES
|
-0.48769185 |
details, prediction |
Ravencoin
RVN
|
-0.413954 |
details, prediction |
aelf
ELF
|
-0.39922142 |
details, prediction |
Telcoin
TEL
|
-0.38114214 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.7575519 |
details, prediction |
ICON
ICX
|
-0.7168789 |
details, prediction |
Storj
STORJ
|
-0.54741865 |
details, prediction |
OPEN Platform
OPEN
|
-0.5114302 |
details, prediction |
BABB
BAX
|
-0.39376596 |
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)