Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.8866655 |
details, prediction |
Litecoin
LTC
|
0.8860651 |
details, prediction |
Ethereum Classic
ETC
|
0.85337204 |
details, prediction |
Dogecoin
DOGE
|
0.8011343 |
details, prediction |
Binance Coin
BNB
|
0.7991097 |
details, prediction |
|
Second tier
|
0x
ZRX
|
0.9451373 |
details, prediction |
Siacoin
SC
|
0.9210987 |
details, prediction |
Theta
THETA
|
0.9047018 |
details, prediction |
NEO
NEO
|
0.90376973 |
details, prediction |
Vechain
VET
|
0.90136117 |
details, prediction |
|
Third tier
|
Power Ledger
POWR
|
0.96866506 |
details, prediction |
Civic
CVC
|
0.96045744 |
details, prediction |
Kyber Network
KNC
|
0.9483074 |
details, prediction |
Metal
MTL
|
0.91360766 |
details, prediction |
ARK
ARK
|
0.8943621 |
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
|
TRON
TRX
|
0.14928229 |
details, prediction |
KuCoin Shares
KCS
|
0.4879286 |
details, prediction |
Stellar
XLM
|
0.680347 |
details, prediction |
Cardano
ADA
|
0.7323472 |
details, prediction |
Bitcoin Cash
BCH
|
0.7438355 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.68433774 |
details, prediction |
USD//Coin
USDC
|
-0.4509261 |
details, prediction |
True USD
TUSD
|
-0.42309487 |
details, prediction |
aelf
ELF
|
-0.0461323 |
details, prediction |
Telcoin
TEL
|
0.010919555 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.65460247 |
details, prediction |
ICON
ICX
|
-0.633429 |
details, prediction |
Matrix AI Network
MAN
|
-0.58139443 |
details, prediction |
HEROcoin
PLAY
|
-0.57937664 |
details, prediction |
NKN
NKN
|
-0.54148304 |
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)