Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.974551 |
details, prediction |
Crypto.com Chain
CRO
|
0.9704937 |
details, prediction |
Litecoin
LTC
|
0.9666953 |
details, prediction |
XRP
XRP
|
0.95523244 |
details, prediction |
Bitcoin Cash
BCH
|
0.9496027 |
details, prediction |
|
Second tier
|
Theta Fuel
TFUEL
|
0.98131174 |
details, prediction |
Tezos
XTZ
|
0.9792004 |
details, prediction |
Ravencoin
RVN
|
0.97521234 |
details, prediction |
Siacoin
SC
|
0.9725914 |
details, prediction |
Vechain
VET
|
0.96125746 |
details, prediction |
|
Third tier
|
Internet of Services
IOST
|
0.98069286 |
details, prediction |
Civic
CVC
|
0.97775704 |
details, prediction |
Lisk
LSK
|
0.9771601 |
details, prediction |
ARK
ARK
|
0.9754687 |
details, prediction |
QuarkChain
QKC
|
0.96858925 |
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
|
Stellar
XLM
|
-0.55513805 |
details, prediction |
ZCash
ZEC
|
-0.14268227 |
details, prediction |
TRON
TRX
|
0.020963926 |
details, prediction |
Monero
XMR
|
0.6047006 |
details, prediction |
Binance Coin
BNB
|
0.62337184 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.65508115 |
details, prediction |
Dai
DAI
|
-0.6273524 |
details, prediction |
Telcoin
TEL
|
-0.33617705 |
details, prediction |
True USD
TUSD
|
-0.31653166 |
details, prediction |
OriginTrail
TRAC
|
-0.16037874 |
details, prediction |
|
Third tier
|
Komodo
KMD
|
-0.16911648 |
details, prediction |
FunFair
FUN
|
-0.06307132 |
details, prediction |
V Systems
VSYS
|
0.0047497926 |
details, prediction |
OPEN Platform
OPEN
|
0.111770734 |
details, prediction |
Matrix AI Network
MAN
|
0.16702238 |
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)