Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.6861586 |
details, prediction |
Ethereum Classic
ETC
|
0.16824737 |
details, prediction |
Dogecoin
DOGE
|
0.14386652 |
details, prediction |
KuCoin Shares
KCS
|
0.13413113 |
details, prediction |
Bitcoin Cash
BCH
|
-0.1844862 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.86653566 |
details, prediction |
Waves
WAVES
|
0.8443755 |
details, prediction |
Synthetix Network Token
SNX
|
0.8380913 |
details, prediction |
aelf
ELF
|
0.8372069 |
details, prediction |
Telcoin
TEL
|
0.8241878 |
details, prediction |
|
Third tier
|
PIVX
PIVX
|
0.91424644 |
details, prediction |
ICON
ICX
|
0.88999283 |
details, prediction |
Storj
STORJ
|
0.88596207 |
details, prediction |
SwftCoin
SWFTC
|
0.88100415 |
details, prediction |
Enjin Coin
ENJ
|
0.80644417 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Ravencoin 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 Ravencoin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
-0.7881643 |
details, prediction |
ChainLink
LINK
|
-0.71526825 |
details, prediction |
Ethereum
ETH
|
-0.70659006 |
details, prediction |
ZCash
ZEC
|
-0.64294827 |
details, prediction |
Binance Coin
BNB
|
-0.60493904 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.77399415 |
details, prediction |
Bitcoin SV
BSV
|
-0.7335812 |
details, prediction |
Decred
DCR
|
-0.6451334 |
details, prediction |
Vechain
VET
|
-0.4785681 |
details, prediction |
HoloToken
HOT
|
-0.45103547 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.69541514 |
details, prediction |
Dent
DENT
|
-0.46462545 |
details, prediction |
Bancor
BNT
|
-0.40267265 |
details, prediction |
Hydro Protocol
HOT
|
-0.3891435 |
details, prediction |
NKN
NKN
|
-0.2871781 |
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)