Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.9609381 |
details, prediction |
XRP
XRP
|
0.94617766 |
details, prediction |
Ethereum
ETH
|
0.9127653 |
details, prediction |
ChainLink
LINK
|
0.90831584 |
details, prediction |
Litecoin
LTC
|
0.8873 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.87896377 |
details, prediction |
Theta
THETA
|
0.8491733 |
details, prediction |
Nexo
NEXO
|
0.8129786 |
details, prediction |
0x
ZRX
|
0.8098996 |
details, prediction |
Vechain
VET
|
0.8045395 |
details, prediction |
|
Third tier
|
Dent
DENT
|
0.8431213 |
details, prediction |
Ontology
ONT
|
0.8265754 |
details, prediction |
Stox
STX
|
0.80774456 |
details, prediction |
Gas
GAS
|
0.8065199 |
details, prediction |
Hydro Protocol
HOT
|
0.69522065 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Bancor 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 Bancor
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.10631905 |
details, prediction |
TRON
TRX
|
0.41228402 |
details, prediction |
KuCoin Shares
KCS
|
0.4163232 |
details, prediction |
Ethereum Classic
ETC
|
0.7038918 |
details, prediction |
Dogecoin
DOGE
|
0.7307449 |
details, prediction |
|
Second tier
|
aelf
ELF
|
-0.49856398 |
details, prediction |
Ravencoin
RVN
|
-0.44126496 |
details, prediction |
Waves
WAVES
|
-0.43318617 |
details, prediction |
USD//Coin
USDC
|
-0.3887112 |
details, prediction |
Dai
DAI
|
-0.35736024 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.740654 |
details, prediction |
ICON
ICX
|
-0.71084905 |
details, prediction |
NKN
NKN
|
-0.5484101 |
details, prediction |
Storj
STORJ
|
-0.53178763 |
details, prediction |
OPEN Platform
OPEN
|
-0.5078519 |
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)