Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.9335853 |
details, prediction |
KuCoin Shares
KCS
|
0.90044045 |
details, prediction |
ZCash
ZEC
|
0.83073896 |
details, prediction |
Ethereum Classic
ETC
|
0.8216799 |
details, prediction |
Cardano
ADA
|
0.804879 |
details, prediction |
|
Second tier
|
Request Network
REQ
|
0.9883639 |
details, prediction |
Siacoin
SC
|
0.98572415 |
details, prediction |
Bitcoin Gold
BTG
|
0.9847304 |
details, prediction |
Status
SNT
|
0.9821667 |
details, prediction |
Theta Fuel
TFUEL
|
0.9769207 |
details, prediction |
|
Third tier
|
IoTeX
IOTX
|
0.985725 |
details, prediction |
Loopring
LRC
|
0.97600174 |
details, prediction |
ICON
ICX
|
0.9669854 |
details, prediction |
Internet of Services
IOST
|
0.9608307 |
details, prediction |
Kyber Network
KNC
|
0.95838237 |
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
|
-0.4505113 |
details, prediction |
UNUS SED LEO
LEO
|
0.00772503 |
details, prediction |
Binance Coin
BNB
|
0.4903052 |
details, prediction |
Ethereum
ETH
|
0.6073118 |
details, prediction |
Bitcoin
BTC
|
0.6347882 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.669931 |
details, prediction |
Dai
DAI
|
-0.1443875 |
details, prediction |
Nexo
NEXO
|
0.31356114 |
details, prediction |
Verge
XVG
|
0.36500773 |
details, prediction |
True USD
TUSD
|
0.37899435 |
details, prediction |
|
Third tier
|
Dent
DENT
|
-0.48038456 |
details, prediction |
Propy
PRO
|
-0.09068816 |
details, prediction |
BABB
BAX
|
0.014343998 |
details, prediction |
FunFair
FUN
|
0.19433652 |
details, prediction |
Steem
STEEM
|
0.31911272 |
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)