Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.51598513 |
details, prediction |
Crypto.com Chain
CRO
|
0.36685297 |
details, prediction |
Litecoin
LTC
|
0.33536473 |
details, prediction |
Ethereum
ETH
|
0.32309294 |
details, prediction |
XRP
XRP
|
0.28236622 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.60012937 |
details, prediction |
Decred
DCR
|
0.5963023 |
details, prediction |
Telcoin
TEL
|
0.49381658 |
details, prediction |
OriginTrail
TRAC
|
0.3798053 |
details, prediction |
aelf
ELF
|
0.35528818 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
0.6891405 |
details, prediction |
SingularityNET
AGI
|
0.62005085 |
details, prediction |
Propy
PRO
|
0.5579055 |
details, prediction |
V Systems
VSYS
|
0.47394946 |
details, prediction |
LAToken
LA
|
0.4062375 |
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
|
Bitcoin Cash
BCH
|
-0.49970183 |
details, prediction |
Dogecoin
DOGE
|
-0.2569646 |
details, prediction |
KuCoin Shares
KCS
|
-0.18319514 |
details, prediction |
ZCash
ZEC
|
-0.101944305 |
details, prediction |
Ethereum Classic
ETC
|
-0.06836081 |
details, prediction |
|
Second tier
|
Waves
WAVES
|
-0.5275655 |
details, prediction |
Basic Attention Token
BAT
|
-0.50729996 |
details, prediction |
Zilliqa
ZIL
|
-0.4705775 |
details, prediction |
Decentraland
MANA
|
-0.4656348 |
details, prediction |
iEx.ec
RLC
|
-0.43713206 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
-0.71365315 |
details, prediction |
Kyber Network
KNC
|
-0.6008891 |
details, prediction |
ICON
ICX
|
-0.5568223 |
details, prediction |
OPEN Platform
OPEN
|
-0.5346475 |
details, prediction |
Elastos
ELA
|
-0.5265273 |
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)