Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.54176927 |
details, prediction |
KuCoin Shares
KCS
|
0.4848014 |
details, prediction |
Ethereum Classic
ETC
|
0.19547343 |
details, prediction |
Bitcoin Cash
BCH
|
0.090322435 |
details, prediction |
Dogecoin
DOGE
|
0.033324324 |
details, prediction |
|
Second tier
|
Chiliz
CHZ
|
0.88280106 |
details, prediction |
Basic Attention Token
BAT
|
0.7098026 |
details, prediction |
aelf
ELF
|
0.6315508 |
details, prediction |
FTX Token
FTT
|
0.6012763 |
details, prediction |
Waves
WAVES
|
0.59787863 |
details, prediction |
|
Third tier
|
PIVX
PIVX
|
0.825558 |
details, prediction |
Enjin Coin
ENJ
|
0.78822756 |
details, prediction |
Kambria
KAT
|
0.6983702 |
details, prediction |
Storj
STORJ
|
0.6695313 |
details, prediction |
SwftCoin
SWFTC
|
0.6305877 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Telcoin 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 Telcoin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
-0.46571064 |
details, prediction |
Ethereum
ETH
|
-0.3596019 |
details, prediction |
Binance Coin
BNB
|
-0.31412897 |
details, prediction |
Cardano
ADA
|
-0.30334598 |
details, prediction |
ChainLink
LINK
|
-0.27734596 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.747286 |
details, prediction |
Decred
DCR
|
-0.40846288 |
details, prediction |
Horizen
ZEN
|
-0.19540745 |
details, prediction |
Bitcoin SV
BSV
|
-0.1953646 |
details, prediction |
Vechain
VET
|
-0.16909522 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.52970535 |
details, prediction |
AdEx
ADX
|
-0.3065327 |
details, prediction |
Dent
DENT
|
-0.24426259 |
details, prediction |
Lisk
LSK
|
-0.23189616 |
details, prediction |
OPEN Platform
OPEN
|
-0.14597896 |
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)