Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.673942 |
details, prediction |
XRP
XRP
|
0.62135905 |
details, prediction |
Dogecoin
DOGE
|
0.5946875 |
details, prediction |
Ethereum Classic
ETC
|
0.5940864 |
details, prediction |
Binance Coin
BNB
|
0.5894698 |
details, prediction |
|
Second tier
|
0x
ZRX
|
0.8461719 |
details, prediction |
Siacoin
SC
|
0.8152817 |
details, prediction |
QTUM
QTUM
|
0.76918966 |
details, prediction |
Theta
THETA
|
0.7685956 |
details, prediction |
Theta Fuel
TFUEL
|
0.7437978 |
details, prediction |
|
Third tier
|
ARK
ARK
|
0.95135313 |
details, prediction |
Power Ledger
POWR
|
0.9280504 |
details, prediction |
Civic
CVC
|
0.91782683 |
details, prediction |
Kyber Network
KNC
|
0.9101538 |
details, prediction |
PIVX
PIVX
|
0.8775925 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Steem 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 Steem
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.06801911 |
details, prediction |
KuCoin Shares
KCS
|
0.24508242 |
details, prediction |
Bitcoin Cash
BCH
|
0.28108677 |
details, prediction |
Stellar
XLM
|
0.31577468 |
details, prediction |
Cardano
ADA
|
0.32431674 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.49576637 |
details, prediction |
USD//Coin
USDC
|
-0.39898053 |
details, prediction |
True USD
TUSD
|
-0.35289413 |
details, prediction |
Ravencoin
RVN
|
-0.3432262 |
details, prediction |
aelf
ELF
|
-0.24464326 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.6809954 |
details, prediction |
Matrix AI Network
MAN
|
-0.48666418 |
details, prediction |
HEROcoin
PLAY
|
-0.41235694 |
details, prediction |
ICON
ICX
|
-0.38205993 |
details, prediction |
OPEN Platform
OPEN
|
-0.2891048 |
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)