Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.9573973 |
details, prediction |
Litecoin
LTC
|
0.95728993 |
details, prediction |
Ethereum
ETH
|
0.9361486 |
details, prediction |
XRP
XRP
|
0.9351209 |
details, prediction |
Bitcoin Cash
BCH
|
0.9227698 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.9675785 |
details, prediction |
Tezos
XTZ
|
0.96277964 |
details, prediction |
Siacoin
SC
|
0.9612814 |
details, prediction |
Theta Fuel
TFUEL
|
0.9598384 |
details, prediction |
Zilliqa
ZIL
|
0.95584685 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.9691011 |
details, prediction |
Civic
CVC
|
0.9685782 |
details, prediction |
Lisk
LSK
|
0.9683085 |
details, prediction |
Internet of Services
IOST
|
0.9672687 |
details, prediction |
ARK
ARK
|
0.96304697 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Power Ledger 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 Power Ledger
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.6326132 |
details, prediction |
ZCash
ZEC
|
-0.05700167 |
details, prediction |
TRON
TRX
|
0.10023114 |
details, prediction |
Binance Coin
BNB
|
0.5975424 |
details, prediction |
Monero
XMR
|
0.6242267 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.69922924 |
details, prediction |
Dai
DAI
|
-0.64830846 |
details, prediction |
True USD
TUSD
|
-0.43630865 |
details, prediction |
Telcoin
TEL
|
-0.25133982 |
details, prediction |
OriginTrail
TRAC
|
-0.15182264 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.61000746 |
details, prediction |
Komodo
KMD
|
-0.09046379 |
details, prediction |
V Systems
VSYS
|
0.03854787 |
details, prediction |
Chronobank
TIME
|
0.047540713 |
details, prediction |
OPEN Platform
OPEN
|
0.07216321 |
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)