Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.75069493 |
details, prediction |
Cardano
ADA
|
0.614828 |
details, prediction |
XRP
XRP
|
0.52483356 |
details, prediction |
Bitcoin Cash
BCH
|
0.3909305 |
details, prediction |
Binance Coin
BNB
|
0.30548006 |
details, prediction |
|
Second tier
|
Decred
DCR
|
0.76110184 |
details, prediction |
Telcoin
TEL
|
0.7406663 |
details, prediction |
Ardor
ARDR
|
0.70820534 |
details, prediction |
Verge
XVG
|
0.6421321 |
details, prediction |
Tezos
XTZ
|
0.6412886 |
details, prediction |
|
Third tier
|
NEM
XEM
|
0.89391714 |
details, prediction |
Matrix AI Network
MAN
|
0.8440851 |
details, prediction |
Stox
STX
|
0.7445469 |
details, prediction |
BABB
BAX
|
0.7175844 |
details, prediction |
Komodo
KMD
|
0.7169525 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that DigiByte 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 DigiByte
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.85624826 |
details, prediction |
ZCash
ZEC
|
-0.45468774 |
details, prediction |
KuCoin Shares
KCS
|
-0.3003493 |
details, prediction |
Ethereum
ETH
|
-0.27318266 |
details, prediction |
Bitcoin
BTC
|
-0.27303264 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.7734584 |
details, prediction |
Algorand
ALGO
|
-0.5751094 |
details, prediction |
USD//Coin
USDC
|
-0.42712152 |
details, prediction |
Bitcoin SV
BSV
|
-0.35444224 |
details, prediction |
Chiliz
CHZ
|
-0.30895728 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.71500856 |
details, prediction |
NKN
NKN
|
-0.58151054 |
details, prediction |
Phantasma
SOUL
|
-0.57744735 |
details, prediction |
Metal
MTL
|
-0.5173596 |
details, prediction |
V Systems
VSYS
|
-0.51651645 |
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)