Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Binance Coin
BNB
|
0.9111289 |
details, prediction |
ChainLink
LINK
|
0.9101393 |
details, prediction |
Ethereum
ETH
|
0.9030088 |
details, prediction |
Bitcoin
BTC
|
0.89946294 |
details, prediction |
Litecoin
LTC
|
0.87553084 |
details, prediction |
|
Second tier
|
Bitcoin SV
BSV
|
0.90904206 |
details, prediction |
Theta
THETA
|
0.8886844 |
details, prediction |
QTUM
QTUM
|
0.86419874 |
details, prediction |
Vechain
VET
|
0.85921204 |
details, prediction |
0x
ZRX
|
0.8424008 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.8691698 |
details, prediction |
Stox
STX
|
0.80893326 |
details, prediction |
QuarkChain
QKC
|
0.7923441 |
details, prediction |
Hydro Protocol
HOT
|
0.7755845 |
details, prediction |
Gas
GAS
|
0.77422494 |
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
|
0.26211232 |
details, prediction |
KuCoin Shares
KCS
|
0.49089605 |
details, prediction |
Stellar
XLM
|
0.49204078 |
details, prediction |
Ethereum Classic
ETC
|
0.7719693 |
details, prediction |
Bitcoin Cash
BCH
|
0.8340399 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.7170662 |
details, prediction |
USD//Coin
USDC
|
-0.6296701 |
details, prediction |
True USD
TUSD
|
-0.611329 |
details, prediction |
Telcoin
TEL
|
-0.30334598 |
details, prediction |
aelf
ELF
|
-0.25775245 |
details, prediction |
|
Third tier
|
ICON
ICX
|
-0.75623834 |
details, prediction |
Storj
STORJ
|
-0.7560682 |
details, prediction |
Matrix AI Network
MAN
|
-0.70460135 |
details, prediction |
NKN
NKN
|
-0.6177913 |
details, prediction |
BABB
BAX
|
-0.5078087 |
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)