Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Litecoin
LTC
|
0.9666003 |
details, prediction |
Bitcoin Cash
BCH
|
0.9583023 |
details, prediction |
Ethereum
ETH
|
0.9524245 |
details, prediction |
XRP
XRP
|
0.9435986 |
details, prediction |
Cardano
ADA
|
0.9372905 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.9975103 |
details, prediction |
Ravencoin
RVN
|
0.9777489 |
details, prediction |
Tezos
XTZ
|
0.97561765 |
details, prediction |
Theta Fuel
TFUEL
|
0.97505426 |
details, prediction |
Vechain
VET
|
0.97104555 |
details, prediction |
|
Third tier
|
ARK
ARK
|
0.9746565 |
details, prediction |
Lisk
LSK
|
0.9740037 |
details, prediction |
Civic
CVC
|
0.9695788 |
details, prediction |
LAToken
LA
|
0.95663863 |
details, prediction |
IoTeX
IOTX
|
0.9518501 |
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
|
-0.6408849 |
details, prediction |
ZCash
ZEC
|
-0.16974285 |
details, prediction |
TRON
TRX
|
-0.06590135 |
details, prediction |
Binance Coin
BNB
|
0.5072635 |
details, prediction |
Monero
XMR
|
0.6279088 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.73638314 |
details, prediction |
USD//Coin
USDC
|
-0.72252035 |
details, prediction |
Telcoin
TEL
|
-0.4323235 |
details, prediction |
OriginTrail
TRAC
|
-0.3108566 |
details, prediction |
True USD
TUSD
|
-0.21545875 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.50834346 |
details, prediction |
Komodo
KMD
|
-0.32238021 |
details, prediction |
V Systems
VSYS
|
-0.058778383 |
details, prediction |
Matrix AI Network
MAN
|
0.19322369 |
details, prediction |
OPEN Platform
OPEN
|
0.19408599 |
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)