Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.83299845 |
details, prediction |
Cardano
ADA
|
0.7835699 |
details, prediction |
XRP
XRP
|
0.6626544 |
details, prediction |
Bitcoin Cash
BCH
|
0.6255103 |
details, prediction |
Stellar
XLM
|
0.31102893 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.8430632 |
details, prediction |
IOTA
IOT
|
0.76708204 |
details, prediction |
Zilliqa
ZIL
|
0.7281445 |
details, prediction |
Theta Fuel
TFUEL
|
0.70784014 |
details, prediction |
Vechain
VET
|
0.6981796 |
details, prediction |
|
Third tier
|
ARK
ARK
|
0.8158415 |
details, prediction |
Stox
STX
|
0.8097285 |
details, prediction |
QuarkChain
QKC
|
0.803625 |
details, prediction |
NEM
XEM
|
0.77532864 |
details, prediction |
Chronobank
TIME
|
0.75658894 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Tezos 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 Tezos
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
-0.8576519 |
details, prediction |
TRON
TRX
|
-0.7773226 |
details, prediction |
ZCash
ZEC
|
-0.24681568 |
details, prediction |
Ethereum
ETH
|
-0.17639852 |
details, prediction |
Bitcoin
BTC
|
-0.09721361 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.4805291 |
details, prediction |
USD//Coin
USDC
|
-0.38394663 |
details, prediction |
Dai
DAI
|
-0.29862326 |
details, prediction |
Algorand
ALGO
|
-0.24813287 |
details, prediction |
Bitcoin SV
BSV
|
-0.08090431 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.6045384 |
details, prediction |
V Systems
VSYS
|
-0.5331612 |
details, prediction |
NKN
NKN
|
-0.44724265 |
details, prediction |
HEROcoin
PLAY
|
-0.28689808 |
details, prediction |
Enjin Coin
ENJ
|
-0.17332536 |
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)