Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.9731926 |
details, prediction |
Crypto.com Chain
CRO
|
0.9675713 |
details, prediction |
Cardano
ADA
|
0.957665 |
details, prediction |
Litecoin
LTC
|
0.95310783 |
details, prediction |
XRP
XRP
|
0.93981934 |
details, prediction |
|
Second tier
|
Theta Fuel
TFUEL
|
0.9753678 |
details, prediction |
Ravencoin
RVN
|
0.970115 |
details, prediction |
Waves
WAVES
|
0.9693091 |
details, prediction |
Bitcoin Gold
BTG
|
0.9683047 |
details, prediction |
Siacoin
SC
|
0.9655881 |
details, prediction |
|
Third tier
|
SingularityNET
AGI
|
0.975333 |
details, prediction |
Gas
GAS
|
0.97056985 |
details, prediction |
Lisk
LSK
|
0.9648464 |
details, prediction |
IoTeX
IOTX
|
0.96449476 |
details, prediction |
LAToken
LA
|
0.9638463 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Steem 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 Steem
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.6055189 |
details, prediction |
ZCash
ZEC
|
-0.2669803 |
details, prediction |
TRON
TRX
|
-0.027162466 |
details, prediction |
Monero
XMR
|
0.49270028 |
details, prediction |
Binance Coin
BNB
|
0.5181536 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.56836927 |
details, prediction |
Dai
DAI
|
-0.5369767 |
details, prediction |
Telcoin
TEL
|
-0.3885169 |
details, prediction |
True USD
TUSD
|
-0.31232923 |
details, prediction |
OriginTrail
TRAC
|
-0.22375828 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.084475495 |
details, prediction |
Chronobank
TIME
|
-0.07323465 |
details, prediction |
OPEN Platform
OPEN
|
0.043838084 |
details, prediction |
Matrix AI Network
MAN
|
0.16178757 |
details, prediction |
Komodo
KMD
|
0.25148717 |
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)