Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.97095215 |
details, prediction |
Bitcoin
BTC
|
0.9295896 |
details, prediction |
Ethereum Classic
ETC
|
0.9283311 |
details, prediction |
Binance Coin
BNB
|
0.9067128 |
details, prediction |
ChainLink
LINK
|
0.8995725 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.94669527 |
details, prediction |
Theta
THETA
|
0.9358967 |
details, prediction |
Nexo
NEXO
|
0.93316054 |
details, prediction |
IOTA
IOT
|
0.91282135 |
details, prediction |
Verge
XVG
|
0.90854186 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.94824076 |
details, prediction |
Gas
GAS
|
0.9411842 |
details, prediction |
Stox
STX
|
0.93224716 |
details, prediction |
Ontology
ONT
|
0.90793335 |
details, prediction |
IoTeX
IOTX
|
0.8506636 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Dogecoin 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 Dogecoin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.34377095 |
details, prediction |
Stellar
XLM
|
0.6950375 |
details, prediction |
KuCoin Shares
KCS
|
0.74285054 |
details, prediction |
Monero
XMR
|
0.79783976 |
details, prediction |
Cardano
ADA
|
0.8515116 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.57894635 |
details, prediction |
USD//Coin
USDC
|
-0.44234857 |
details, prediction |
True USD
TUSD
|
-0.3996624 |
details, prediction |
aelf
ELF
|
-0.15459861 |
details, prediction |
Telcoin
TEL
|
0.033324324 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.71808773 |
details, prediction |
Matrix AI Network
MAN
|
-0.70556706 |
details, prediction |
ICON
ICX
|
-0.6884329 |
details, prediction |
OPEN Platform
OPEN
|
-0.66937786 |
details, prediction |
Storj
STORJ
|
-0.5429642 |
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)