Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.98029554 |
details, prediction |
Ethereum Classic
ETC
|
0.9739198 |
details, prediction |
XRP
XRP
|
0.96444875 |
details, prediction |
Bitcoin Cash
BCH
|
0.9146719 |
details, prediction |
Bitcoin
BTC
|
0.8794912 |
details, prediction |
|
Second tier
|
Theta Fuel
TFUEL
|
0.98156875 |
details, prediction |
NEO
NEO
|
0.980833 |
details, prediction |
Verge
XVG
|
0.9768035 |
details, prediction |
Siacoin
SC
|
0.97678113 |
details, prediction |
Ravencoin
RVN
|
0.97622764 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.99037194 |
details, prediction |
ARK
ARK
|
0.9899243 |
details, prediction |
Internet of Services
IOST
|
0.98944825 |
details, prediction |
Kyber Network
KNC
|
0.9867496 |
details, prediction |
Gas
GAS
|
0.98357 |
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
|
-0.16412541 |
details, prediction |
TRON
TRX
|
0.39093283 |
details, prediction |
Monero
XMR
|
0.46236223 |
details, prediction |
ZCash
ZEC
|
0.51937616 |
details, prediction |
Ethereum
ETH
|
0.6571589 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.8090013 |
details, prediction |
USD//Coin
USDC
|
-0.692622 |
details, prediction |
True USD
TUSD
|
-0.22246295 |
details, prediction |
DigiByte
DGB
|
-0.0053990036 |
details, prediction |
Bitcoin SV
BSV
|
0.60470295 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.31127355 |
details, prediction |
Phantasma
SOUL
|
-0.09364842 |
details, prediction |
NKN
NKN
|
-0.04216494 |
details, prediction |
Matrix AI Network
MAN
|
-0.028113391 |
details, prediction |
V Systems
VSYS
|
0.0335521 |
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)