Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.8455603 |
details, prediction |
Dogecoin
DOGE
|
0.83133507 |
details, prediction |
Bitcoin
BTC
|
0.82192373 |
details, prediction |
XRP
XRP
|
0.8154752 |
details, prediction |
Litecoin
LTC
|
0.77577734 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.84441346 |
details, prediction |
Algorand
ALGO
|
0.8342012 |
details, prediction |
iEx.ec
RLC
|
0.83224684 |
details, prediction |
Verge
XVG
|
0.82356507 |
details, prediction |
NEO
NEO
|
0.811309 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.8476089 |
details, prediction |
Wanchain
WAN
|
0.81949097 |
details, prediction |
QuarkChain
QKC
|
0.8187359 |
details, prediction |
IoTeX
IOTX
|
0.81447583 |
details, prediction |
Kyber Network
KNC
|
0.7974449 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Binance Coin 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 Binance Coin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.08537511 |
details, prediction |
TRON
TRX
|
0.5256912 |
details, prediction |
ZCash
ZEC
|
0.61156315 |
details, prediction |
Monero
XMR
|
0.65491945 |
details, prediction |
Ethereum
ETH
|
0.69064546 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.6368051 |
details, prediction |
True USD
TUSD
|
-0.48191524 |
details, prediction |
Dai
DAI
|
-0.4486411 |
details, prediction |
DigiByte
DGB
|
0.31801388 |
details, prediction |
Telcoin
TEL
|
0.4822004 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.34684905 |
details, prediction |
Matrix AI Network
MAN
|
-0.1912325 |
details, prediction |
Phantasma
SOUL
|
-0.11650645 |
details, prediction |
NKN
NKN
|
-0.06480381 |
details, prediction |
V Systems
VSYS
|
0.10953732 |
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)