Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.956969 |
details, prediction |
Dogecoin
DOGE
|
0.9345111 |
details, prediction |
XRP
XRP
|
0.88486505 |
details, prediction |
Bitcoin Cash
BCH
|
0.8580376 |
details, prediction |
KuCoin Shares
KCS
|
0.7801471 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
0.96199036 |
details, prediction |
Theta Fuel
TFUEL
|
0.96095777 |
details, prediction |
NEO
NEO
|
0.95886123 |
details, prediction |
Tezos
XTZ
|
0.95643735 |
details, prediction |
Waves
WAVES
|
0.9557231 |
details, prediction |
|
Third tier
|
Steem
STEEM
|
0.9761749 |
details, prediction |
Civic
CVC
|
0.97616535 |
details, prediction |
ARK
ARK
|
0.9759987 |
details, prediction |
Internet of Services
IOST
|
0.9749424 |
details, prediction |
Gas
GAS
|
0.9634157 |
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
|
0.012257545 |
details, prediction |
Monero
XMR
|
0.06511905 |
details, prediction |
ChainLink
LINK
|
0.3097091 |
details, prediction |
Ethereum
ETH
|
0.3424464 |
details, prediction |
ZCash
ZEC
|
0.3740192 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.67403793 |
details, prediction |
USD//Coin
USDC
|
-0.45571002 |
details, prediction |
DigiByte
DGB
|
-0.21477881 |
details, prediction |
True USD
TUSD
|
-0.1403517 |
details, prediction |
Bitcoin SV
BSV
|
0.23486799 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.31876323 |
details, prediction |
NKN
NKN
|
-0.20249216 |
details, prediction |
V Systems
VSYS
|
-0.18045215 |
details, prediction |
Phantasma
SOUL
|
-0.058221582 |
details, prediction |
OPEN Platform
OPEN
|
0.23308907 |
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)