Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
IOTA
IOT
|
0.932049 |
details, prediction |
NEO
NEO
|
0.9251125 |
details, prediction |
Decentraland
MANA
|
0.91771513 |
details, prediction |
ChainLink
LINK
|
0.9151752 |
details, prediction |
Tezos
XTZ
|
0.91226286 |
details, prediction |
Second tier
|
Horizen
ZEN
|
0.92116827 |
details, prediction |
IoTeX
IOTX
|
0.9157439 |
details, prediction |
Fantom
FTM
|
0.9118493 |
details, prediction |
Ravencoin
RVN
|
0.91152453 |
details, prediction |
Basic Attention Token
BAT
|
0.9080716 |
details, prediction |
Third tier
|
Phantasma
SOUL
|
0.94499516 |
details, prediction |
Cappasity
CAPP
|
0.9216017 |
details, prediction |
Aurora Chain
AOA
|
0.9206492 |
details, prediction |
Lympo
LYM
|
0.91452855 |
details, prediction |
Matrix AI Network
MAN
|
0.91336375 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Waves 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 Waves
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.36485493 |
details, prediction |
Monero
XMR
|
0.43309405 |
details, prediction |
KuCoin Shares
KCS
|
0.6716686 |
details, prediction |
Huobi Token
HT
|
0.6850684 |
details, prediction |
Dogecoin
DOGE
|
0.69391656 |
details, prediction |
Second tier
|
USD//Coin
USDC
|
-0.6911522 |
details, prediction |
True USD
TUSD
|
-0.64128315 |
details, prediction |
Dai
DAI
|
-0.61760974 |
details, prediction |
Paxos Standard
PAX
|
-0.42081723 |
details, prediction |
EthLend
LEND
|
-0.33543923 |
details, prediction |
Third tier
|
Time New Bank
TNB
|
-0.8607175 |
details, prediction |
ILCoin
ILC
|
-0.61199456 |
details, prediction |
Envion
EVN
|
-0.592744 |
details, prediction |
FeatherCoin
FTC
|
-0.5660799 |
details, prediction |
SibCoin
SIB
|
-0.5007143 |
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)