Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.9127247 |
details, prediction |
Dogecoin
DOGE
|
0.74524033 |
details, prediction |
Monero
XMR
|
0.7135337 |
details, prediction |
ChainLink
LINK
|
0.7048979 |
details, prediction |
Bitcoin
BTC
|
0.6842867 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.8196037 |
details, prediction |
0x
ZRX
|
0.6668777 |
details, prediction |
Theta
THETA
|
0.6065703 |
details, prediction |
Algorand
ALGO
|
0.59315187 |
details, prediction |
FTX Token
FTT
|
0.58988947 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.7339375 |
details, prediction |
Metal
MTL
|
0.70524436 |
details, prediction |
Loopring
LRC
|
0.66726416 |
details, prediction |
Bancor
BNT
|
0.6605173 |
details, prediction |
Lisk
LSK
|
0.46725303 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that DASH 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 DASH
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.3653605 |
details, prediction |
Bitcoin Cash
BCH
|
-0.18125676 |
details, prediction |
Crypto.com Chain
CRO
|
0.022324486 |
details, prediction |
XRP
XRP
|
0.13153955 |
details, prediction |
Cardano
ADA
|
0.13385276 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.60995185 |
details, prediction |
USD//Coin
USDC
|
-0.44598264 |
details, prediction |
Verge
XVG
|
-0.36115205 |
details, prediction |
DigiByte
DGB
|
-0.30552217 |
details, prediction |
Decred
DCR
|
-0.29158905 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.63079077 |
details, prediction |
Wanchain
WAN
|
-0.4996497 |
details, prediction |
BABB
BAX
|
-0.44608623 |
details, prediction |
SysCoin
SYS
|
-0.4125178 |
details, prediction |
Dent
DENT
|
-0.34072873 |
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)