Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.8140893 |
details, prediction |
Bitcoin
BTC
|
0.80467063 |
details, prediction |
Monero
XMR
|
0.7846978 |
details, prediction |
Dogecoin
DOGE
|
0.7400176 |
details, prediction |
Ethereum Classic
ETC
|
0.6679786 |
details, prediction |
|
Second tier
|
DASH
DASH
|
0.9127247 |
details, prediction |
0x
ZRX
|
0.7842889 |
details, prediction |
Algorand
ALGO
|
0.7687686 |
details, prediction |
Bitcoin SV
BSV
|
0.75240785 |
details, prediction |
Horizen
ZEN
|
0.70959526 |
details, prediction |
|
Third tier
|
Metal
MTL
|
0.828677 |
details, prediction |
HEROcoin
PLAY
|
0.78909487 |
details, prediction |
OPEN Platform
OPEN
|
0.78049093 |
details, prediction |
Bancor
BNT
|
0.73935175 |
details, prediction |
Storj
STORJ
|
0.72685134 |
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
|
Crypto.com Chain
CRO
|
-0.49854895 |
details, prediction |
Bitcoin Cash
BCH
|
-0.37536404 |
details, prediction |
Stellar
XLM
|
-0.2971118 |
details, prediction |
Cardano
ADA
|
0.0174692 |
details, prediction |
XRP
XRP
|
0.10799278 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.6938805 |
details, prediction |
Verge
XVG
|
-0.5931056 |
details, prediction |
Telcoin
TEL
|
-0.5286562 |
details, prediction |
Ardor
ARDR
|
-0.45924714 |
details, prediction |
DigiByte
DGB
|
-0.45468774 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.7758028 |
details, prediction |
BABB
BAX
|
-0.69957286 |
details, prediction |
Dent
DENT
|
-0.6656816 |
details, prediction |
SysCoin
SYS
|
-0.6100323 |
details, prediction |
Constellation
DAG
|
-0.568385 |
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)