Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.8949968 |
details, prediction |
XRP
XRP
|
0.6236268 |
details, prediction |
Ethereum Classic
ETC
|
0.6194477 |
details, prediction |
Bitcoin Cash
BCH
|
0.59453267 |
details, prediction |
Binance Coin
BNB
|
0.52050835 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
0.90640974 |
details, prediction |
IOTA
IOT
|
0.8434333 |
details, prediction |
Tezos
XTZ
|
0.8007091 |
details, prediction |
OriginTrail
TRAC
|
0.78885776 |
details, prediction |
Bitcoin Gold
BTG
|
0.7642484 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
0.89700174 |
details, prediction |
Komodo
KMD
|
0.89396626 |
details, prediction |
Stox
STX
|
0.8869791 |
details, prediction |
Internet of Services
IOST
|
0.8133824 |
details, prediction |
ARK
ARK
|
0.78221154 |
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
|
-0.6487786 |
details, prediction |
Ethereum
ETH
|
-0.3827417 |
details, prediction |
KuCoin Shares
KCS
|
-0.17942029 |
details, prediction |
Bitcoin
BTC
|
-0.14500311 |
details, prediction |
Stellar
XLM
|
-0.005538467 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.46093303 |
details, prediction |
USD//Coin
USDC
|
-0.29184058 |
details, prediction |
Algorand
ALGO
|
-0.2303222 |
details, prediction |
Bitcoin SV
BSV
|
-0.17809948 |
details, prediction |
Dai
DAI
|
-0.080654435 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.7458454 |
details, prediction |
HEROcoin
PLAY
|
-0.5409169 |
details, prediction |
OPEN Platform
OPEN
|
-0.5161123 |
details, prediction |
NKN
NKN
|
-0.4655234 |
details, prediction |
Enjin Coin
ENJ
|
-0.41773275 |
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)