Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.96245754 |
details, prediction |
Crypto.com Chain
CRO
|
0.6426325 |
details, prediction |
Cardano
ADA
|
0.63526213 |
details, prediction |
XRP
XRP
|
0.2366722 |
details, prediction |
KuCoin Shares
KCS
|
0.23515852 |
details, prediction |
|
Second tier
|
Siacoin
SC
|
0.96033174 |
details, prediction |
Theta Fuel
TFUEL
|
0.9440159 |
details, prediction |
Zilliqa
ZIL
|
0.89736515 |
details, prediction |
Bitcoin Gold
BTG
|
0.88836867 |
details, prediction |
Basic Attention Token
BAT
|
0.8512428 |
details, prediction |
|
Third tier
|
IoTeX
IOTX
|
0.95610005 |
details, prediction |
Loopring
LRC
|
0.93568903 |
details, prediction |
Elastos
ELA
|
0.91169196 |
details, prediction |
Komodo
KMD
|
0.85864115 |
details, prediction |
Internet of Services
IOST
|
0.854337 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Waves 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 Waves
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.73546326 |
details, prediction |
Ethereum
ETH
|
-0.7125929 |
details, prediction |
Bitcoin
BTC
|
-0.50949615 |
details, prediction |
Monero
XMR
|
-0.34845167 |
details, prediction |
ChainLink
LINK
|
-0.3430411 |
details, prediction |
|
Second tier
|
Bitcoin SV
BSV
|
-0.5674567 |
details, prediction |
Nexo
NEXO
|
-0.46113935 |
details, prediction |
Algorand
ALGO
|
-0.43930295 |
details, prediction |
HoloToken
HOT
|
-0.3208235 |
details, prediction |
Decred
DCR
|
-0.09641159 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.8529555 |
details, prediction |
Ontology
ONT
|
-0.5388949 |
details, prediction |
Steem
STEEM
|
-0.5275655 |
details, prediction |
HEROcoin
PLAY
|
-0.4821737 |
details, prediction |
Enjin Coin
ENJ
|
-0.38046917 |
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)