Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.9529228 |
details, prediction |
Bitcoin
BTC
|
0.9462558 |
details, prediction |
ZCash
ZEC
|
0.91829336 |
details, prediction |
Ethereum
ETH
|
0.91337526 |
details, prediction |
Monero
XMR
|
0.9132716 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.90173775 |
details, prediction |
QTUM
QTUM
|
0.88966703 |
details, prediction |
Horizen
ZEN
|
0.8804216 |
details, prediction |
Theta
THETA
|
0.844557 |
details, prediction |
DASH
DASH
|
0.7968293 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.88772345 |
details, prediction |
Dent
DENT
|
0.8782942 |
details, prediction |
Stox
STX
|
0.8009053 |
details, prediction |
Ontology
ONT
|
0.7426131 |
details, prediction |
Gas
GAS
|
0.6836526 |
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
|
Stellar
XLM
|
-0.10028071 |
details, prediction |
TRON
TRX
|
0.2445272 |
details, prediction |
KuCoin Shares
KCS
|
0.29675415 |
details, prediction |
Ethereum Classic
ETC
|
0.54665214 |
details, prediction |
Dogecoin
DOGE
|
0.63910437 |
details, prediction |
|
Second tier
|
aelf
ELF
|
-0.68223625 |
details, prediction |
USD//Coin
USDC
|
-0.64753926 |
details, prediction |
True USD
TUSD
|
-0.6098295 |
details, prediction |
Ravencoin
RVN
|
-0.60493904 |
details, prediction |
Waves
WAVES
|
-0.59788233 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.86593676 |
details, prediction |
ICON
ICX
|
-0.808736 |
details, prediction |
Storj
STORJ
|
-0.7255522 |
details, prediction |
OPEN Platform
OPEN
|
-0.4347689 |
details, prediction |
NKN
NKN
|
-0.4312522 |
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)