Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Litecoin
LTC
|
0.97539604 |
details, prediction |
Crypto.com Chain
CRO
|
0.94852203 |
details, prediction |
XRP
XRP
|
0.94204646 |
details, prediction |
Bitcoin Cash
BCH
|
0.92215014 |
details, prediction |
Ethereum Classic
ETC
|
0.88954216 |
details, prediction |
|
Second tier
|
Tezos
XTZ
|
0.96347445 |
details, prediction |
Siacoin
SC
|
0.9631443 |
details, prediction |
Bitcoin Gold
BTG
|
0.9626966 |
details, prediction |
Theta Fuel
TFUEL
|
0.95329237 |
details, prediction |
Zilliqa
ZIL
|
0.9511476 |
details, prediction |
|
Third tier
|
Internet of Services
IOST
|
0.96940947 |
details, prediction |
ARK
ARK
|
0.95981747 |
details, prediction |
Civic
CVC
|
0.9572375 |
details, prediction |
IoTeX
IOTX
|
0.9569077 |
details, prediction |
Power Ledger
POWR
|
0.94853324 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Cardano 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 Cardano
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
-0.885029 |
details, prediction |
Stellar
XLM
|
-0.63481003 |
details, prediction |
ZCash
ZEC
|
-0.19853975 |
details, prediction |
TRON
TRX
|
-0.1624874 |
details, prediction |
Binance Coin
BNB
|
0.43402255 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.61385506 |
details, prediction |
Dai
DAI
|
-0.56907517 |
details, prediction |
OriginTrail
TRAC
|
-0.45618019 |
details, prediction |
True USD
TUSD
|
-0.38894686 |
details, prediction |
Telcoin
TEL
|
-0.15872195 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.3844172 |
details, prediction |
V Systems
VSYS
|
0.0126076015 |
details, prediction |
Enjin Coin
ENJ
|
0.1582116 |
details, prediction |
HEROcoin
PLAY
|
0.1588984 |
details, prediction |
Ontology
ONT
|
0.3603622 |
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)