Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
FTX Token
FTT
|
0.9759329 |
details, prediction |
Matic Network
MATIC
|
0.97315025 |
details, prediction |
IOTA
IOT
|
0.9718041 |
details, prediction |
Decentraland
MANA
|
0.9703434 |
details, prediction |
Crypto.com Chain
CRO
|
0.96805 |
details, prediction |
Second tier
|
Ravencoin
RVN
|
0.97641486 |
details, prediction |
DASH
DASH
|
0.9712395 |
details, prediction |
QTUM
QTUM
|
0.9709795 |
details, prediction |
Horizen
ZEN
|
0.9693581 |
details, prediction |
SysCoin
SYS
|
0.96880645 |
details, prediction |
Third tier
|
Stox
STX
|
0.9648654 |
details, prediction |
Synereo
AMP
|
0.9591835 |
details, prediction |
Bitshares
BTS
|
0.9572359 |
details, prediction |
V Systems
VSYS
|
0.95661336 |
details, prediction |
QLINK
QLC
|
0.95645696 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ZCash 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 ZCash
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
TRON
TRX
|
-0.42528543 |
details, prediction |
Monero
XMR
|
0.6678569 |
details, prediction |
KuCoin Shares
KCS
|
0.80390066 |
details, prediction |
Huobi Token
HT
|
0.8474188 |
details, prediction |
Dogecoin
DOGE
|
0.8685917 |
details, prediction |
Second tier
|
USD//Coin
USDC
|
-0.58679384 |
details, prediction |
True USD
TUSD
|
-0.56747615 |
details, prediction |
Dai
DAI
|
-0.5297746 |
details, prediction |
Paxos Standard
PAX
|
-0.47655213 |
details, prediction |
EthLend
LEND
|
-0.300538 |
details, prediction |
Third tier
|
Time New Bank
TNB
|
-0.870695 |
details, prediction |
ILCoin
ILC
|
-0.6704945 |
details, prediction |
Gemini Dollar
GUSD
|
-0.6532195 |
details, prediction |
Envion
EVN
|
-0.63659567 |
details, prediction |
FeatherCoin
FTC
|
-0.59711903 |
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)