Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.6129705 |
details, prediction |
Bitcoin Cash
BCH
|
0.55206114 |
details, prediction |
Ethereum Classic
ETC
|
0.5133897 |
details, prediction |
KuCoin Shares
KCS
|
0.4623981 |
details, prediction |
XRP
XRP
|
0.40667307 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.8921831 |
details, prediction |
Vechain
VET
|
0.86034405 |
details, prediction |
QTUM
QTUM
|
0.8508487 |
details, prediction |
Basic Attention Token
BAT
|
0.8406779 |
details, prediction |
Zilliqa
ZIL
|
0.8360122 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.9102028 |
details, prediction |
ICON
ICX
|
0.8788257 |
details, prediction |
Internet of Services
IOST
|
0.86218315 |
details, prediction |
Lisk
LSK
|
0.8556533 |
details, prediction |
AdEx
ADX
|
0.84779793 |
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
|
TRON
TRX
|
-0.39276525 |
details, prediction |
Stellar
XLM
|
-0.30012167 |
details, prediction |
Ethereum
ETH
|
-0.104356125 |
details, prediction |
Bitcoin
BTC
|
0.027982734 |
details, prediction |
Monero
XMR
|
0.029991064 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.22955889 |
details, prediction |
Dai
DAI
|
-0.2142255 |
details, prediction |
True USD
TUSD
|
-0.18353581 |
details, prediction |
Bitcoin Gold
BTG
|
-0.14887503 |
details, prediction |
Decred
DCR
|
-0.10168898 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.43852586 |
details, prediction |
V Systems
VSYS
|
-0.4273898 |
details, prediction |
Ontology
ONT
|
-0.29096845 |
details, prediction |
Steem
STEEM
|
-0.2670126 |
details, prediction |
Dent
DENT
|
-0.20586278 |
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)