Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9309021 |
details, prediction |
Dogecoin
DOGE
|
0.91282135 |
details, prediction |
Litecoin
LTC
|
0.8737316 |
details, prediction |
Bitcoin Cash
BCH
|
0.8687516 |
details, prediction |
XRP
XRP
|
0.8620227 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.92365026 |
details, prediction |
Algorand
ALGO
|
0.92079973 |
details, prediction |
Decentraland
MANA
|
0.9131501 |
details, prediction |
Theta
THETA
|
0.91121453 |
details, prediction |
0x
ZRX
|
0.9041991 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.90373987 |
details, prediction |
Stox
STX
|
0.9004451 |
details, prediction |
Bancor
BNT
|
0.86385685 |
details, prediction |
Steem
STEEM
|
0.85935056 |
details, prediction |
Kyber Network
KNC
|
0.84293973 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that IOTA 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 IOTA
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.28615493 |
details, prediction |
Monero
XMR
|
0.6725668 |
details, prediction |
Ethereum
ETH
|
0.7598587 |
details, prediction |
KuCoin Shares
KCS
|
0.7619796 |
details, prediction |
Cardano
ADA
|
0.78714865 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.5060138 |
details, prediction |
USD//Coin
USDC
|
-0.33209422 |
details, prediction |
True USD
TUSD
|
-0.2907503 |
details, prediction |
aelf
ELF
|
0.09135737 |
details, prediction |
Bitcoin Gold
BTG
|
0.14483236 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.6277047 |
details, prediction |
OPEN Platform
OPEN
|
-0.6060956 |
details, prediction |
ICON
ICX
|
-0.54574776 |
details, prediction |
Matrix AI Network
MAN
|
-0.5320303 |
details, prediction |
HEROcoin
PLAY
|
-0.42590052 |
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)