Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.91142374 |
details, prediction |
ChainLink
LINK
|
0.7938414 |
details, prediction |
ZCash
ZEC
|
0.7846978 |
details, prediction |
Dogecoin
DOGE
|
0.75351185 |
details, prediction |
Litecoin
LTC
|
0.7415662 |
details, prediction |
|
Second tier
|
0x
ZRX
|
0.7753363 |
details, prediction |
DASH
DASH
|
0.7135337 |
details, prediction |
HoloToken
HOT
|
0.69471693 |
details, prediction |
Theta
THETA
|
0.6705705 |
details, prediction |
Synthetix Network Token
SNX
|
0.6586188 |
details, prediction |
|
Third tier
|
Metal
MTL
|
0.7388137 |
details, prediction |
OPEN Platform
OPEN
|
0.71789736 |
details, prediction |
Hydro Protocol
HOT
|
0.7130624 |
details, prediction |
Bancor
BNT
|
0.70973873 |
details, prediction |
HEROcoin
PLAY
|
0.57660013 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Monero 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 Monero
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
-0.39091077 |
details, prediction |
Stellar
XLM
|
0.042489566 |
details, prediction |
Cardano
ADA
|
0.06645781 |
details, prediction |
Crypto.com Chain
CRO
|
0.16513765 |
details, prediction |
TRON
TRX
|
0.34893876 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.84787595 |
details, prediction |
USD//Coin
USDC
|
-0.6475858 |
details, prediction |
Verge
XVG
|
-0.6361214 |
details, prediction |
Waves
WAVES
|
-0.34845167 |
details, prediction |
Ardor
ARDR
|
-0.32640707 |
details, prediction |
|
Third tier
|
Phantasma
SOUL
|
-0.6604818 |
details, prediction |
PIVX
PIVX
|
-0.61658156 |
details, prediction |
SysCoin
SYS
|
-0.5731611 |
details, prediction |
Constellation
DAG
|
-0.5241514 |
details, prediction |
Wanchain
WAN
|
-0.459176 |
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)