Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Fantom
FTM
|
0.9073835 |
details, prediction |
Ethereum Classic
ETC
|
0.81846184 |
details, prediction |
KuCoin Shares
KCS
|
0.7587456 |
details, prediction |
Bitcoin
BTC
|
0.75424755 |
details, prediction |
Binance Coin
BNB
|
0.74139065 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.83507794 |
details, prediction |
NEO
NEO
|
0.8083682 |
details, prediction |
IOTA
IOT
|
0.79252845 |
details, prediction |
Nano
NANO
|
0.792157 |
details, prediction |
aelf
ELF
|
0.78184575 |
details, prediction |
|
Third tier
|
Molecule
MOL
|
0.9716779 |
details, prediction |
SIX
SIX
|
0.91741997 |
details, prediction |
AeonCoin
AEON
|
0.8896091 |
details, prediction |
FeatherCoin
FTC
|
0.8746803 |
details, prediction |
Diamond
DMD
|
0.86877686 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that EquiTrader 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 EquiTrader
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
-0.38337636 |
details, prediction |
ChainLink
LINK
|
-0.22845635 |
details, prediction |
Maker
MKR
|
-0.14277099 |
details, prediction |
Stellar
XLM
|
0.23794562 |
details, prediction |
Dogecoin
DOGE
|
0.44208387 |
details, prediction |
|
Second tier
|
Paxos Standard
PAX
|
-0.5138021 |
details, prediction |
Nexo
NEXO
|
-0.49320263 |
details, prediction |
Quant Network
QNT
|
-0.3761048 |
details, prediction |
True USD
TUSD
|
-0.29187268 |
details, prediction |
Dai
DAI
|
-0.19809096 |
details, prediction |
|
Third tier
|
Zoin
ZOI
|
-0.6514516 |
details, prediction |
Gemini Dollar
GUSD
|
-0.6077531 |
details, prediction |
Darico
DEC
|
-0.5564474 |
details, prediction |
Cofound.it
CFI
|
-0.5263153 |
details, prediction |
Buggyra Coin Zero
BCZERO
|
-0.51203275 |
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)