Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.65423775 |
details, prediction |
Cardano
ADA
|
0.64685214 |
details, prediction |
Bitcoin Cash
BCH
|
0.5092263 |
details, prediction |
KuCoin Shares
KCS
|
0.43312418 |
details, prediction |
Dogecoin
DOGE
|
0.373332 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.8432233 |
details, prediction |
Decentraland
MANA
|
0.8204354 |
details, prediction |
IOTA
IOT
|
0.77331394 |
details, prediction |
Basic Attention Token
BAT
|
0.7547092 |
details, prediction |
Zilliqa
ZIL
|
0.7375521 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.9128293 |
details, prediction |
Power Ledger
POWR
|
0.8508487 |
details, prediction |
Internet of Services
IOST
|
0.8328144 |
details, prediction |
Gas
GAS
|
0.8192861 |
details, prediction |
AdEx
ADX
|
0.7893507 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that QTUM 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 QTUM
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.3181967 |
details, prediction |
Ethereum
ETH
|
-0.255506 |
details, prediction |
Stellar
XLM
|
-0.2296893 |
details, prediction |
Bitcoin
BTC
|
-0.023175357 |
details, prediction |
Monero
XMR
|
0.050657246 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.23476042 |
details, prediction |
USD//Coin
USDC
|
-0.07154703 |
details, prediction |
True USD
TUSD
|
-0.066552386 |
details, prediction |
Dai
DAI
|
-0.05504977 |
details, prediction |
Nexo
NEXO
|
0.021318603 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.36524534 |
details, prediction |
Kambria
KAT
|
-0.30060402 |
details, prediction |
Steem
STEEM
|
-0.298108 |
details, prediction |
V Systems
VSYS
|
-0.29290333 |
details, prediction |
Ontology
ONT
|
-0.19354594 |
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)