Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.94333935 |
details, prediction |
Ethereum Classic
ETC
|
0.9405775 |
details, prediction |
Monero
XMR
|
0.90717757 |
details, prediction |
KuCoin Shares
KCS
|
0.8969293 |
details, prediction |
Litecoin
LTC
|
0.87971413 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.97111917 |
details, prediction |
Bitcoin Gold
BTG
|
0.9694073 |
details, prediction |
Synthetix Network Token
SNX
|
0.9671824 |
details, prediction |
Telcoin
TEL
|
0.959108 |
details, prediction |
Theta Fuel
TFUEL
|
0.9589019 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.97691655 |
details, prediction |
Kleros
PNK
|
0.9766504 |
details, prediction |
Internet of Services
IOST
|
0.9734949 |
details, prediction |
PIVX
PIVX
|
0.96867585 |
details, prediction |
Lisk
LSK
|
0.9614026 |
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
|
TRON
TRX
|
-0.7380545 |
details, prediction |
UNUS SED LEO
LEO
|
0.27604222 |
details, prediction |
ZCash
ZEC
|
0.5028512 |
details, prediction |
Binance Coin
BNB
|
0.722731 |
details, prediction |
Ethereum
ETH
|
0.75455284 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.3325525 |
details, prediction |
Decred
DCR
|
-0.21476838 |
details, prediction |
True USD
TUSD
|
0.24524358 |
details, prediction |
Nexo
NEXO
|
0.35305178 |
details, prediction |
Algorand
ALGO
|
0.44002673 |
details, prediction |
|
Third tier
|
Kambria
KAT
|
-0.49458805 |
details, prediction |
Ontology
ONT
|
-0.40992638 |
details, prediction |
OPEN Platform
OPEN
|
-0.11092682 |
details, prediction |
Enjin Coin
ENJ
|
-0.0029099002 |
details, prediction |
Dent
DENT
|
0.029087184 |
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)