Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.79118365 |
details, prediction |
ChainLink
LINK
|
0.7369303 |
details, prediction |
Litecoin
LTC
|
0.6371468 |
details, prediction |
ZCash
ZEC
|
0.6113537 |
details, prediction |
KuCoin Shares
KCS
|
0.6050525 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.68594384 |
details, prediction |
0x
ZRX
|
0.672902 |
details, prediction |
aelf
ELF
|
0.64435697 |
details, prediction |
Status
SNT
|
0.6342367 |
details, prediction |
Theta
THETA
|
0.62647676 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.709563 |
details, prediction |
Storj
STORJ
|
0.6521264 |
details, prediction |
Lisk
LSK
|
0.5966366 |
details, prediction |
Loopring
LRC
|
0.59126353 |
details, prediction |
AdEx
ADX
|
0.5809202 |
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
|
Stellar
XLM
|
-0.032766074 |
details, prediction |
Bitcoin Cash
BCH
|
-0.025609048 |
details, prediction |
TRON
TRX
|
0.09042579 |
details, prediction |
Crypto.com Chain
CRO
|
0.22596551 |
details, prediction |
Ethereum
ETH
|
0.26848575 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.42875212 |
details, prediction |
USD//Coin
USDC
|
-0.32905087 |
details, prediction |
Decred
DCR
|
-0.1997441 |
details, prediction |
Verge
XVG
|
-0.17625092 |
details, prediction |
True USD
TUSD
|
-0.035408296 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.3901066 |
details, prediction |
FunFair
FUN
|
-0.36254218 |
details, prediction |
Dent
DENT
|
-0.35371494 |
details, prediction |
Wanchain
WAN
|
-0.27581364 |
details, prediction |
SysCoin
SYS
|
-0.15386435 |
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)