Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.75153935 |
details, prediction |
Cardano
ADA
|
0.7156693 |
details, prediction |
Ethereum Classic
ETC
|
0.5348051 |
details, prediction |
KuCoin Shares
KCS
|
0.490259 |
details, prediction |
Dogecoin
DOGE
|
0.42398766 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.93291867 |
details, prediction |
Basic Attention Token
BAT
|
0.91838676 |
details, prediction |
Decentraland
MANA
|
0.91746956 |
details, prediction |
QTUM
QTUM
|
0.8432233 |
details, prediction |
IOTA
IOT
|
0.82997465 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.9648167 |
details, prediction |
ARK
ARK
|
0.8974583 |
details, prediction |
Internet of Services
IOST
|
0.86903197 |
details, prediction |
Power Ledger
POWR
|
0.86034405 |
details, prediction |
ICON
ICX
|
0.8490513 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Vechain 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 Vechain
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.54068017 |
details, prediction |
Ethereum
ETH
|
-0.3699927 |
details, prediction |
Stellar
XLM
|
-0.24476478 |
details, prediction |
Bitcoin
BTC
|
-0.08114503 |
details, prediction |
Litecoin
LTC
|
0.016978508 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.2281239 |
details, prediction |
USD//Coin
USDC
|
-0.08309853 |
details, prediction |
Dai
DAI
|
-0.070130184 |
details, prediction |
True USD
TUSD
|
-0.061933726 |
details, prediction |
Bitcoin SV
BSV
|
-0.028246006 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.5702231 |
details, prediction |
NKN
NKN
|
-0.5086638 |
details, prediction |
Ontology
ONT
|
-0.456761 |
details, prediction |
Steem
STEEM
|
-0.4356186 |
details, prediction |
Dent
DENT
|
-0.1352849 |
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)