Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.9812048 |
details, prediction |
XRP
XRP
|
0.9635621 |
details, prediction |
Ethereum Classic
ETC
|
0.95834935 |
details, prediction |
Bitcoin Cash
BCH
|
0.9295853 |
details, prediction |
Bitcoin
BTC
|
0.90545005 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
0.9842319 |
details, prediction |
Theta Fuel
TFUEL
|
0.98168725 |
details, prediction |
Verge
XVG
|
0.97721946 |
details, prediction |
Waves
WAVES
|
0.9761814 |
details, prediction |
Siacoin
SC
|
0.97558534 |
details, prediction |
|
Third tier
|
ARK
ARK
|
0.989159 |
details, prediction |
Civic
CVC
|
0.9890406 |
details, prediction |
Lisk
LSK
|
0.98739946 |
details, prediction |
Internet of Services
IOST
|
0.98561794 |
details, prediction |
Gas
GAS
|
0.98402745 |
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
|
Stellar
XLM
|
-0.35256642 |
details, prediction |
TRON
TRX
|
0.24368475 |
details, prediction |
ZCash
ZEC
|
0.3187846 |
details, prediction |
Monero
XMR
|
0.6970419 |
details, prediction |
Ethereum
ETH
|
0.75572354 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.83598113 |
details, prediction |
USD//Coin
USDC
|
-0.7916857 |
details, prediction |
True USD
TUSD
|
-0.31537753 |
details, prediction |
DigiByte
DGB
|
0.19223899 |
details, prediction |
Telcoin
TEL
|
0.68822724 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.32127544 |
details, prediction |
Phantasma
SOUL
|
-0.09724188 |
details, prediction |
V Systems
VSYS
|
-0.06771176 |
details, prediction |
Matrix AI Network
MAN
|
0.041797426 |
details, prediction |
NKN
NKN
|
0.08910895 |
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)