Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9696715 |
details, prediction |
Litecoin
LTC
|
0.9437931 |
details, prediction |
ZCash
ZEC
|
0.93618566 |
details, prediction |
KuCoin Shares
KCS
|
0.9146926 |
details, prediction |
Monero
XMR
|
0.9110988 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
0.9751491 |
details, prediction |
EOS
EOS
|
0.97384757 |
details, prediction |
Synthetix Network Token
SNX
|
0.96254534 |
details, prediction |
DASH
DASH
|
0.9582372 |
details, prediction |
Horizen
ZEN
|
0.9558136 |
details, prediction |
|
Third tier
|
Kleros
PNK
|
0.98142916 |
details, prediction |
Lisk
LSK
|
0.96836025 |
details, prediction |
Bancor
BNT
|
0.96569467 |
details, prediction |
Civic
CVC
|
0.9452219 |
details, prediction |
PIVX
PIVX
|
0.9428644 |
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
|
TRON
TRX
|
-0.7061835 |
details, prediction |
UNUS SED LEO
LEO
|
0.39109814 |
details, prediction |
Binance Coin
BNB
|
0.6794149 |
details, prediction |
Dogecoin
DOGE
|
0.72517586 |
details, prediction |
Bitcoin Cash
BCH
|
0.8210807 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5423154 |
details, prediction |
Decred
DCR
|
-0.18312341 |
details, prediction |
True USD
TUSD
|
-0.03219396 |
details, prediction |
Verge
XVG
|
0.41679165 |
details, prediction |
Nexo
NEXO
|
0.481199 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.24806258 |
details, prediction |
Dent
DENT
|
-0.0052091 |
details, prediction |
HEROcoin
PLAY
|
0.10471615 |
details, prediction |
NKN
NKN
|
0.1413184 |
details, prediction |
Dero
DERO
|
0.20312321 |
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)