Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.88911515 |
details, prediction |
Bitcoin Cash
BCH
|
0.8770432 |
details, prediction |
XRP
XRP
|
0.8760403 |
details, prediction |
Ethereum Classic
ETC
|
0.87198216 |
details, prediction |
Dogecoin
DOGE
|
0.8486114 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.9307712 |
details, prediction |
Horizen
ZEN
|
0.91799814 |
details, prediction |
0x
ZRX
|
0.9115404 |
details, prediction |
Theta Fuel
TFUEL
|
0.897731 |
details, prediction |
Theta
THETA
|
0.8975256 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.92316085 |
details, prediction |
Gas
GAS
|
0.91686046 |
details, prediction |
Stox
STX
|
0.88778377 |
details, prediction |
SysCoin
SYS
|
0.8830507 |
details, prediction |
Ontology
ONT
|
0.8810071 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Vechain 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 Vechain
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.06717343 |
details, prediction |
Monero
XMR
|
0.46874428 |
details, prediction |
ChainLink
LINK
|
0.6112383 |
details, prediction |
Ethereum
ETH
|
0.6385826 |
details, prediction |
TRON
TRX
|
0.6923116 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.82371414 |
details, prediction |
USD//Coin
USDC
|
-0.37203595 |
details, prediction |
True USD
TUSD
|
-0.3255623 |
details, prediction |
DigiByte
DGB
|
0.23710242 |
details, prediction |
Bitcoin SV
BSV
|
0.4640649 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
-0.32178855 |
details, prediction |
NKN
NKN
|
-0.26815948 |
details, prediction |
Propy
PRO
|
-0.20759037 |
details, prediction |
OPEN Platform
OPEN
|
-0.009194571 |
details, prediction |
V Systems
VSYS
|
0.0325041 |
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)