Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.8544849 |
details, prediction |
Ethereum Classic
ETC
|
0.83691436 |
details, prediction |
Litecoin
LTC
|
0.83496916 |
details, prediction |
Dogecoin
DOGE
|
0.74295187 |
details, prediction |
Binance Coin
BNB
|
0.72572106 |
details, prediction |
|
Second tier
|
Siacoin
SC
|
0.92590165 |
details, prediction |
0x
ZRX
|
0.9061553 |
details, prediction |
Tezos
XTZ
|
0.89216673 |
details, prediction |
NEO
NEO
|
0.8903269 |
details, prediction |
Vechain
VET
|
0.8622109 |
details, prediction |
|
Third tier
|
Steem
STEEM
|
0.96866506 |
details, prediction |
Kyber Network
KNC
|
0.9483676 |
details, prediction |
Civic
CVC
|
0.9479704 |
details, prediction |
Metal
MTL
|
0.8907639 |
details, prediction |
QuarkChain
QKC
|
0.85961217 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Power Ledger 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 Power Ledger
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.07888666 |
details, prediction |
KuCoin Shares
KCS
|
0.4431052 |
details, prediction |
Cardano
ADA
|
0.6385706 |
details, prediction |
Ethereum
ETH
|
0.67091936 |
details, prediction |
Stellar
XLM
|
0.6715861 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.62163115 |
details, prediction |
USD//Coin
USDC
|
-0.4014326 |
details, prediction |
True USD
TUSD
|
-0.37492082 |
details, prediction |
Bitcoin Gold
BTG
|
-0.21412958 |
details, prediction |
aelf
ELF
|
-0.0079520885 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.6625751 |
details, prediction |
OPEN Platform
OPEN
|
-0.6438388 |
details, prediction |
ICON
ICX
|
-0.5424114 |
details, prediction |
Matrix AI Network
MAN
|
-0.49153143 |
details, prediction |
NKN
NKN
|
-0.49071476 |
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)