Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.7582394 |
details, prediction |
ChainLink
LINK
|
0.7558701 |
details, prediction |
Bitcoin
BTC
|
0.7116818 |
details, prediction |
Monero
XMR
|
0.7058648 |
details, prediction |
Ethereum Classic
ETC
|
0.7056236 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.79515964 |
details, prediction |
Cosmos
ATOM
|
0.7507397 |
details, prediction |
IOTA
IOT
|
0.7427375 |
details, prediction |
Synthetix Network Token
SNX
|
0.7169124 |
details, prediction |
iEx.ec
RLC
|
0.6977588 |
details, prediction |
|
Third tier
|
Chronobank
TIME
|
0.8607377 |
details, prediction |
Bancor
BNT
|
0.81472415 |
details, prediction |
Stox
STX
|
0.8048164 |
details, prediction |
Storj
STORJ
|
0.6785188 |
details, prediction |
Internet of Services
IOST
|
0.63209003 |
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
|
-0.05886918 |
details, prediction |
Bitcoin Cash
BCH
|
0.4270154 |
details, prediction |
ZCash
ZEC
|
0.44413617 |
details, prediction |
KuCoin Shares
KCS
|
0.50581926 |
details, prediction |
TRON
TRX
|
0.5269705 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.45236388 |
details, prediction |
True USD
TUSD
|
-0.33807796 |
details, prediction |
Dai
DAI
|
-0.33529443 |
details, prediction |
Verge
XVG
|
0.28332275 |
details, prediction |
Telcoin
TEL
|
0.31538993 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.5114736 |
details, prediction |
Komodo
KMD
|
-0.3493519 |
details, prediction |
Propy
PRO
|
-0.053035807 |
details, prediction |
BABB
BAX
|
-0.038330223 |
details, prediction |
NKN
NKN
|
-0.021972414 |
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)