Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.71336704 |
details, prediction |
Ethereum Classic
ETC
|
0.5174214 |
details, prediction |
Litecoin
LTC
|
0.40109825 |
details, prediction |
Bitcoin Cash
BCH
|
0.36349726 |
details, prediction |
KuCoin Shares
KCS
|
0.32089972 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.9186509 |
details, prediction |
Zilliqa
ZIL
|
0.8304714 |
details, prediction |
Status
SNT
|
0.82052267 |
details, prediction |
Chiliz
CHZ
|
0.7921426 |
details, prediction |
Tezos
XTZ
|
0.683216 |
details, prediction |
|
Third tier
|
PIVX
PIVX
|
0.87939405 |
details, prediction |
Enjin Coin
ENJ
|
0.78171533 |
details, prediction |
SwftCoin
SWFTC
|
0.770347 |
details, prediction |
Kambria
KAT
|
0.65850914 |
details, prediction |
Civic
CVC
|
0.6395737 |
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
|
Monero
XMR
|
-0.049664207 |
details, prediction |
Ethereum
ETH
|
-0.030910911 |
details, prediction |
TRON
TRX
|
-0.0016609799 |
details, prediction |
Binance Coin
BNB
|
0.03420291 |
details, prediction |
ChainLink
LINK
|
0.04072813 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.48562798 |
details, prediction |
Ravencoin
RVN
|
0.05639957 |
details, prediction |
Nexo
NEXO
|
0.13347259 |
details, prediction |
Decred
DCR
|
0.13934746 |
details, prediction |
Bitcoin SV
BSV
|
0.20209013 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.45520765 |
details, prediction |
AdEx
ADX
|
-0.3293706 |
details, prediction |
V Systems
VSYS
|
-0.31805336 |
details, prediction |
OPEN Platform
OPEN
|
-0.30149966 |
details, prediction |
Dent
DENT
|
-0.11992643 |
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)