Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.8951436 |
details, prediction |
Litecoin
LTC
|
0.8550284 |
details, prediction |
Ethereum
ETH
|
0.83142066 |
details, prediction |
KuCoin Shares
KCS
|
0.80369353 |
details, prediction |
Cardano
ADA
|
0.80287224 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.8968499 |
details, prediction |
Status
SNT
|
0.87284493 |
details, prediction |
Tezos
XTZ
|
0.86531085 |
details, prediction |
Waves
WAVES
|
0.86492616 |
details, prediction |
Vechain
VET
|
0.8588209 |
details, prediction |
|
Third tier
|
Hydro Protocol
HOT
|
0.9008888 |
details, prediction |
Gas
GAS
|
0.84817535 |
details, prediction |
Lisk
LSK
|
0.84795505 |
details, prediction |
Civic
CVC
|
0.84371245 |
details, prediction |
ARK
ARK
|
0.84336483 |
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
|
Stellar
XLM
|
-0.7396785 |
details, prediction |
ZCash
ZEC
|
-0.2816517 |
details, prediction |
TRON
TRX
|
-0.08827502 |
details, prediction |
Binance Coin
BNB
|
0.26793113 |
details, prediction |
Monero
XMR
|
0.4778416 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.6467153 |
details, prediction |
USD//Coin
USDC
|
-0.59213877 |
details, prediction |
OriginTrail
TRAC
|
-0.514194 |
details, prediction |
Telcoin
TEL
|
-0.46970505 |
details, prediction |
True USD
TUSD
|
-0.055502497 |
details, prediction |
|
Third tier
|
Komodo
KMD
|
-0.16405992 |
details, prediction |
FunFair
FUN
|
-0.08643857 |
details, prediction |
V Systems
VSYS
|
-0.03311416 |
details, prediction |
OPEN Platform
OPEN
|
-0.01415035 |
details, prediction |
Matrix AI Network
MAN
|
0.19437169 |
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)