Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9102997 |
details, prediction |
Litecoin
LTC
|
0.88526 |
details, prediction |
ChainLink
LINK
|
0.88004524 |
details, prediction |
Bitcoin
BTC
|
0.8482193 |
details, prediction |
Bitcoin Cash
BCH
|
0.84578264 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.97828096 |
details, prediction |
Decred
DCR
|
0.8672597 |
details, prediction |
Bitcoin SV
BSV
|
0.84819984 |
details, prediction |
Decentraland
MANA
|
0.8424725 |
details, prediction |
0x
ZRX
|
0.8325146 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.91441536 |
details, prediction |
Bancor
BNT
|
0.8065882 |
details, prediction |
Dero
DERO
|
0.77428126 |
details, prediction |
Constellation
DAG
|
0.77275544 |
details, prediction |
Gas
GAS
|
0.7426119 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Hydro Protocol 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 Hydro Protocol
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.443265 |
details, prediction |
TRON
TRX
|
0.40770352 |
details, prediction |
KuCoin Shares
KCS
|
0.45975068 |
details, prediction |
Binance Coin
BNB
|
0.5563296 |
details, prediction |
Dogecoin
DOGE
|
0.61705935 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.87574714 |
details, prediction |
USD//Coin
USDC
|
-0.63566387 |
details, prediction |
True USD
TUSD
|
-0.11392962 |
details, prediction |
Telcoin
TEL
|
0.08665735 |
details, prediction |
OriginTrail
TRAC
|
0.09876999 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.4164355 |
details, prediction |
OPEN Platform
OPEN
|
-0.36850533 |
details, prediction |
SingularityNET
AGI
|
0.08650441 |
details, prediction |
Dent
DENT
|
0.1267146 |
details, prediction |
LAToken
LA
|
0.1776877 |
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)