Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9000543 |
details, prediction |
ChainLink
LINK
|
0.89193237 |
details, prediction |
Crypto.com Chain
CRO
|
0.8866496 |
details, prediction |
Cardano
ADA
|
0.8831239 |
details, prediction |
Stellar
XLM
|
0.8767287 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.9920351 |
details, prediction |
Power Ledger
POWR
|
0.98600936 |
details, prediction |
QTUM
QTUM
|
0.9855047 |
details, prediction |
Status
SNT
|
0.9834345 |
details, prediction |
HoloToken
HOT
|
0.98246855 |
details, prediction |
|
Third tier
|
SwftCoin
SWFTC
|
0.99187595 |
details, prediction |
Dent
DENT
|
0.98865896 |
details, prediction |
PIVX
PIVX
|
0.9871483 |
details, prediction |
Storj
STORJ
|
0.98649424 |
details, prediction |
ICON
ICX
|
0.9863471 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Decentraland 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 Decentraland
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.49428633 |
details, prediction |
Binance Coin
BNB
|
-0.46255335 |
details, prediction |
Dogecoin
DOGE
|
0.15196584 |
details, prediction |
XRP
XRP
|
0.28213078 |
details, prediction |
KuCoin Shares
KCS
|
0.6239866 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5587528 |
details, prediction |
True USD
TUSD
|
-0.3569992 |
details, prediction |
Zilliqa
ZIL
|
0.19843733 |
details, prediction |
Ardor
ARDR
|
0.3008393 |
details, prediction |
Verge
XVG
|
0.3106426 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.88241965 |
details, prediction |
Constellation
DAG
|
-0.54083204 |
details, prediction |
Dero
DERO
|
-0.22956266 |
details, prediction |
BOScoin
BOS
|
0.09985184 |
details, prediction |
Elastos
ELA
|
0.37558135 |
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)