Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.94480526 |
details, prediction |
Bitcoin Cash
BCH
|
0.9420355 |
details, prediction |
Litecoin
LTC
|
0.9328445 |
details, prediction |
ChainLink
LINK
|
0.89923644 |
details, prediction |
Ethereum
ETH
|
0.87863207 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.9338414 |
details, prediction |
Horizen
ZEN
|
0.9230094 |
details, prediction |
Decentraland
MANA
|
0.9133655 |
details, prediction |
Bitcoin Gold
BTG
|
0.90297043 |
details, prediction |
0x
ZRX
|
0.9028421 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.9164784 |
details, prediction |
Gas
GAS
|
0.8887132 |
details, prediction |
Civic
CVC
|
0.8703782 |
details, prediction |
QuarkChain
QKC
|
0.8693802 |
details, prediction |
ARK
ARK
|
0.8679379 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Cardano 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 Cardano
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.41118914 |
details, prediction |
TRON
TRX
|
0.46873596 |
details, prediction |
ZCash
ZEC
|
0.6759375 |
details, prediction |
KuCoin Shares
KCS
|
0.70868695 |
details, prediction |
Monero
XMR
|
0.7758017 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.8460998 |
details, prediction |
Dai
DAI
|
-0.78034616 |
details, prediction |
True USD
TUSD
|
-0.5094943 |
details, prediction |
DigiByte
DGB
|
0.3915276 |
details, prediction |
Telcoin
TEL
|
0.4201212 |
details, prediction |
|
Third tier
|
Phantasma
SOUL
|
-0.18000603 |
details, prediction |
Propy
PRO
|
-0.16557632 |
details, prediction |
BABB
BAX
|
-0.021297337 |
details, prediction |
Matrix AI Network
MAN
|
-0.009536764 |
details, prediction |
Achain
ACT
|
0.113249466 |
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)