Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9688092 |
details, prediction |
Litecoin
LTC
|
0.9196174 |
details, prediction |
Dogecoin
DOGE
|
0.8905826 |
details, prediction |
Bitcoin Cash
BCH
|
0.86743635 |
details, prediction |
XRP
XRP
|
0.8588906 |
details, prediction |
|
Second tier
|
0x
ZRX
|
0.9384598 |
details, prediction |
Decentraland
MANA
|
0.93327767 |
details, prediction |
IOTA
IOT
|
0.92365026 |
details, prediction |
Tezos
XTZ
|
0.90900934 |
details, prediction |
Theta
THETA
|
0.90432966 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.9216348 |
details, prediction |
Kyber Network
KNC
|
0.9211607 |
details, prediction |
Steem
STEEM
|
0.90376973 |
details, prediction |
Stox
STX
|
0.9009337 |
details, prediction |
Power Ledger
POWR
|
0.8903269 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that NEO 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 NEO
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.2843462 |
details, prediction |
KuCoin Shares
KCS
|
0.6637921 |
details, prediction |
Monero
XMR
|
0.6811759 |
details, prediction |
Cardano
ADA
|
0.7643027 |
details, prediction |
Ethereum
ETH
|
0.7670406 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.49146923 |
details, prediction |
USD//Coin
USDC
|
-0.28986463 |
details, prediction |
True USD
TUSD
|
-0.2616585 |
details, prediction |
aelf
ELF
|
0.053105734 |
details, prediction |
Telcoin
TEL
|
0.14935331 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.63509333 |
details, prediction |
ICON
ICX
|
-0.5178818 |
details, prediction |
NKN
NKN
|
-0.49664143 |
details, prediction |
Matrix AI Network
MAN
|
-0.4797901 |
details, prediction |
HEROcoin
PLAY
|
-0.44041258 |
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)