Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.2705056 |
details, prediction |
KuCoin Shares
KCS
|
0.24854387 |
details, prediction |
Dogecoin
DOGE
|
0.24273087 |
details, prediction |
TRON
TRX
|
0.18061751 |
details, prediction |
ZCash
ZEC
|
0.16345432 |
details, prediction |
|
Second tier
|
iEx.ec
RLC
|
0.43168908 |
details, prediction |
Status
SNT
|
0.4105798 |
details, prediction |
True USD
TUSD
|
0.38216588 |
details, prediction |
Chiliz
CHZ
|
0.35716084 |
details, prediction |
Ravencoin
RVN
|
0.3516195 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
0.5921051 |
details, prediction |
OPEN Platform
OPEN
|
0.49710372 |
details, prediction |
Phantasma
SOUL
|
0.47187465 |
details, prediction |
Kyber Network
KNC
|
0.41809958 |
details, prediction |
Hydro Protocol
HOT
|
0.37528148 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Electroneum 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 Electroneum
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
-0.28885818 |
details, prediction |
Cardano
ADA
|
-0.016124303 |
details, prediction |
Ethereum
ETH
|
0.015617704 |
details, prediction |
Binance Coin
BNB
|
0.051318463 |
details, prediction |
Litecoin
LTC
|
0.0612572 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.47022218 |
details, prediction |
Verge
XVG
|
-0.3892764 |
details, prediction |
OriginTrail
TRAC
|
-0.3733821 |
details, prediction |
DigiByte
DGB
|
-0.31255934 |
details, prediction |
Telcoin
TEL
|
-0.15794972 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.67877483 |
details, prediction |
Matrix AI Network
MAN
|
-0.51176906 |
details, prediction |
Dent
DENT
|
-0.4072877 |
details, prediction |
Propy
PRO
|
-0.3071171 |
details, prediction |
Steem
STEEM
|
-0.259998 |
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)