Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.8930844 |
details, prediction |
Ethereum
ETH
|
0.88806194 |
details, prediction |
Bitcoin
BTC
|
0.87791526 |
details, prediction |
Litecoin
LTC
|
0.8671923 |
details, prediction |
Cardano
ADA
|
0.8608449 |
details, prediction |
|
Second tier
|
Decred
DCR
|
0.84184945 |
details, prediction |
Vechain
VET
|
0.8142896 |
details, prediction |
Bitcoin Gold
BTG
|
0.806343 |
details, prediction |
HoloToken
HOT
|
0.78545374 |
details, prediction |
Decentraland
MANA
|
0.78405523 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.8357188 |
details, prediction |
Hydro Protocol
HOT
|
0.78489333 |
details, prediction |
Gas
GAS
|
0.7442647 |
details, prediction |
QuarkChain
QKC
|
0.72733676 |
details, prediction |
Kyber Network
KNC
|
0.7227158 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Monero 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 Monero
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.56897783 |
details, prediction |
TRON
TRX
|
0.3622003 |
details, prediction |
ZCash
ZEC
|
0.50407743 |
details, prediction |
KuCoin Shares
KCS
|
0.5190439 |
details, prediction |
Binance Coin
BNB
|
0.6841732 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.7208008 |
details, prediction |
USD//Coin
USDC
|
-0.7018373 |
details, prediction |
True USD
TUSD
|
-0.41296342 |
details, prediction |
Telcoin
TEL
|
0.074517965 |
details, prediction |
OriginTrail
TRAC
|
0.39294103 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.07260785 |
details, prediction |
Propy
PRO
|
-0.00609169 |
details, prediction |
Matrix AI Network
MAN
|
0.13604179 |
details, prediction |
Phantasma
SOUL
|
0.18697079 |
details, prediction |
Dent
DENT
|
0.22134611 |
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)