Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
KuCoin Shares
KCS
|
0.69242924 |
details, prediction |
Crypto.com Chain
CRO
|
0.65871316 |
details, prediction |
ZCash
ZEC
|
0.55866075 |
details, prediction |
Ethereum
ETH
|
0.29196435 |
details, prediction |
Bitcoin
BTC
|
0.2617968 |
details, prediction |
|
Second tier
|
EOS
EOS
|
0.81544083 |
details, prediction |
Synthetix Network Token
SNX
|
0.71883696 |
details, prediction |
Algorand
ALGO
|
0.36374372 |
details, prediction |
Nexo
NEXO
|
0.27681094 |
details, prediction |
Telcoin
TEL
|
0.21171232 |
details, prediction |
|
Third tier
|
Kleros
PNK
|
0.9565444 |
details, prediction |
Phantasma
SOUL
|
0.79809624 |
details, prediction |
Streamr DATAcoin
DATA
|
0.74775296 |
details, prediction |
Loopring
LRC
|
0.73585296 |
details, prediction |
Stox
STX
|
0.5780926 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Enjin Coin 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 Enjin Coin
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
-0.18596832 |
details, prediction |
Cardano
ADA
|
-0.083262816 |
details, prediction |
Binance Coin
BNB
|
-0.06058555 |
details, prediction |
Stellar
XLM
|
-0.0377995 |
details, prediction |
Dogecoin
DOGE
|
-8.0611015E-4 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.20834644 |
details, prediction |
Ardor
ARDR
|
-0.1322625 |
details, prediction |
IOTA
IOT
|
-0.123693235 |
details, prediction |
Zilliqa
ZIL
|
-0.087290645 |
details, prediction |
Theta Fuel
TFUEL
|
-0.084775925 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.762697 |
details, prediction |
Wanchain
WAN
|
-0.5633032 |
details, prediction |
Dero
DERO
|
-0.5348456 |
details, prediction |
Kambria
KAT
|
-0.35301343 |
details, prediction |
Dent
DENT
|
-0.34543365 |
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)