Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9731015 |
details, prediction |
Bitcoin
BTC
|
0.97167206 |
details, prediction |
ChainLink
LINK
|
0.96791714 |
details, prediction |
Monero
XMR
|
0.96433544 |
details, prediction |
ZCash
ZEC
|
0.947037 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.9478924 |
details, prediction |
Theta
THETA
|
0.9453247 |
details, prediction |
Vechain
VET
|
0.9446142 |
details, prediction |
Horizen
ZEN
|
0.9436687 |
details, prediction |
Verge
XVG
|
0.91231775 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.9205737 |
details, prediction |
Stox
STX
|
0.91086864 |
details, prediction |
Gas
GAS
|
0.87274903 |
details, prediction |
Dent
DENT
|
0.8707014 |
details, prediction |
QuarkChain
QKC
|
0.8441156 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Binance Coin 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 Binance Coin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.24194737 |
details, prediction |
Stellar
XLM
|
0.43543404 |
details, prediction |
KuCoin Shares
KCS
|
0.4724223 |
details, prediction |
Bitcoin Cash
BCH
|
0.75883996 |
details, prediction |
Ethereum Classic
ETC
|
0.79493606 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.826903 |
details, prediction |
USD//Coin
USDC
|
-0.68142825 |
details, prediction |
True USD
TUSD
|
-0.65006036 |
details, prediction |
aelf
ELF
|
-0.3999933 |
details, prediction |
Telcoin
TEL
|
-0.31412897 |
details, prediction |
|
Third tier
|
ICON
ICX
|
-0.89991754 |
details, prediction |
Matrix AI Network
MAN
|
-0.88064367 |
details, prediction |
Storj
STORJ
|
-0.8023814 |
details, prediction |
BABB
BAX
|
-0.7770015 |
details, prediction |
NKN
NKN
|
-0.7439787 |
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)