Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.8506636 |
details, prediction |
Ethereum Classic
ETC
|
0.81485844 |
details, prediction |
Binance Coin
BNB
|
0.80773425 |
details, prediction |
ZCash
ZEC
|
0.8011017 |
details, prediction |
XRP
XRP
|
0.7792006 |
details, prediction |
|
Second tier
|
Verge
XVG
|
0.87639636 |
details, prediction |
QTUM
QTUM
|
0.865397 |
details, prediction |
Theta
THETA
|
0.8611628 |
details, prediction |
Vechain
VET
|
0.83824027 |
details, prediction |
Bitcoin SV
BSV
|
0.837167 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.8500073 |
details, prediction |
Metal
MTL
|
0.84471136 |
details, prediction |
Stox
STX
|
0.842671 |
details, prediction |
QuarkChain
QKC
|
0.8308103 |
details, prediction |
Kyber Network
KNC
|
0.81618965 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that IoTeX 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 IoTeX
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.1319179 |
details, prediction |
Stellar
XLM
|
0.5895227 |
details, prediction |
KuCoin Shares
KCS
|
0.59183234 |
details, prediction |
Ethereum
ETH
|
0.72285175 |
details, prediction |
Bitcoin Cash
BCH
|
0.72868377 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.6241938 |
details, prediction |
USD//Coin
USDC
|
-0.48454005 |
details, prediction |
True USD
TUSD
|
-0.4312249 |
details, prediction |
aelf
ELF
|
-0.13958423 |
details, prediction |
Telcoin
TEL
|
0.07505549 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.6547182 |
details, prediction |
Matrix AI Network
MAN
|
-0.6310256 |
details, prediction |
ICON
ICX
|
-0.61066985 |
details, prediction |
OPEN Platform
OPEN
|
-0.6038104 |
details, prediction |
Propy
PRO
|
-0.5150527 |
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)