Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.9666694 |
details, prediction |
Bitcoin Cash
BCH
|
0.9619582 |
details, prediction |
Ethereum Classic
ETC
|
0.9592385 |
details, prediction |
Stellar
XLM
|
0.9527987 |
details, prediction |
Litecoin
LTC
|
0.94356674 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.97457826 |
details, prediction |
Basic Attention Token
BAT
|
0.9732514 |
details, prediction |
Telcoin
TEL
|
0.9687198 |
details, prediction |
0x
ZRX
|
0.96434 |
details, prediction |
Loopring
LRC
|
0.96118736 |
details, prediction |
|
Third tier
|
IoTeX
IOTX
|
0.9670366 |
details, prediction |
ICON
ICX
|
0.96690786 |
details, prediction |
Bancor
BNT
|
0.96559435 |
details, prediction |
Phantasma
SOUL
|
0.96344393 |
details, prediction |
Dent
DENT
|
0.95962405 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that IOTA 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 IOTA
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.53238267 |
details, prediction |
Binance Coin
BNB
|
-0.18476902 |
details, prediction |
Dogecoin
DOGE
|
0.26381803 |
details, prediction |
XRP
XRP
|
0.43392718 |
details, prediction |
Monero
XMR
|
0.81045365 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.61410207 |
details, prediction |
True USD
TUSD
|
-0.5658115 |
details, prediction |
Zilliqa
ZIL
|
0.15446594 |
details, prediction |
Ardor
ARDR
|
0.22021215 |
details, prediction |
Decred
DCR
|
0.29935026 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.7212317 |
details, prediction |
Constellation
DAG
|
-0.6127663 |
details, prediction |
Dero
DERO
|
-0.27715528 |
details, prediction |
BOScoin
BOS
|
-0.17266053 |
details, prediction |
Elastos
ELA
|
0.30627197 |
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)