Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.78060305 |
details, prediction |
ChainLink
LINK
|
0.7577972 |
details, prediction |
Bitcoin
BTC
|
0.7282069 |
details, prediction |
Litecoin
LTC
|
0.7087082 |
details, prediction |
Cardano
ADA
|
0.6759375 |
details, prediction |
|
Second tier
|
Decred
DCR
|
0.7454646 |
details, prediction |
Bitcoin Gold
BTG
|
0.72810894 |
details, prediction |
HoloToken
HOT
|
0.6936712 |
details, prediction |
Decentraland
MANA
|
0.6503362 |
details, prediction |
Bitcoin SV
BSV
|
0.63709897 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
0.781593 |
details, prediction |
Bancor
BNT
|
0.72035146 |
details, prediction |
Hydro Protocol
HOT
|
0.70432943 |
details, prediction |
Dero
DERO
|
0.6286077 |
details, prediction |
Gas
GAS
|
0.57514036 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ZCash 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 ZCash
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.30040532 |
details, prediction |
Dogecoin
DOGE
|
0.47506663 |
details, prediction |
Ethereum Classic
ETC
|
0.5656482 |
details, prediction |
XRP
XRP
|
0.5961384 |
details, prediction |
Bitcoin Cash
BCH
|
0.61068493 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.36784068 |
details, prediction |
USD//Coin
USDC
|
-0.34228668 |
details, prediction |
True USD
TUSD
|
-0.27012378 |
details, prediction |
Telcoin
TEL
|
0.20473045 |
details, prediction |
OriginTrail
TRAC
|
0.32744637 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.26863122 |
details, prediction |
Achain
ACT
|
-0.2400433 |
details, prediction |
OPEN Platform
OPEN
|
-0.09465093 |
details, prediction |
Propy
PRO
|
0.07049852 |
details, prediction |
Matrix AI Network
MAN
|
0.18251415 |
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)