Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.8488689 |
details, prediction |
Ethereum Classic
ETC
|
0.8452454 |
details, prediction |
Stellar
XLM
|
0.81407344 |
details, prediction |
Bitcoin Cash
BCH
|
0.64367515 |
details, prediction |
KuCoin Shares
KCS
|
0.6296246 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.9475724 |
details, prediction |
IOTA
IOT
|
0.9227662 |
details, prediction |
iEx.ec
RLC
|
0.9153551 |
details, prediction |
Siacoin
SC
|
0.9122474 |
details, prediction |
Tezos
XTZ
|
0.9103114 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.9707195 |
details, prediction |
Kyber Network
KNC
|
0.94952863 |
details, prediction |
Power Ledger
POWR
|
0.9482242 |
details, prediction |
Steem
STEEM
|
0.94749266 |
details, prediction |
PIVX
PIVX
|
0.9128206 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ARK 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 ARK
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
-0.16262433 |
details, prediction |
Ethereum
ETH
|
-0.07371973 |
details, prediction |
ChainLink
LINK
|
-0.06498718 |
details, prediction |
ZCash
ZEC
|
0.040973008 |
details, prediction |
TRON
TRX
|
0.12584111 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.85084975 |
details, prediction |
DigiByte
DGB
|
-0.36806136 |
details, prediction |
Bitcoin SV
BSV
|
-0.14846176 |
details, prediction |
USD//Coin
USDC
|
-0.051343825 |
details, prediction |
True USD
TUSD
|
0.023019511 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.47134048 |
details, prediction |
V Systems
VSYS
|
-0.43566203 |
details, prediction |
Propy
PRO
|
-0.3756076 |
details, prediction |
Phantasma
SOUL
|
0.013567153 |
details, prediction |
Hydro Protocol
HOT
|
0.029324131 |
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)