Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.7865165 |
details, prediction |
KuCoin Shares
KCS
|
0.76244664 |
details, prediction |
Ethereum Classic
ETC
|
0.6740171 |
details, prediction |
Dogecoin
DOGE
|
0.6091869 |
details, prediction |
Bitcoin Cash
BCH
|
0.40779963 |
details, prediction |
|
Second tier
|
Cosmos
ATOM
|
0.8176016 |
details, prediction |
iEx.ec
RLC
|
0.7806728 |
details, prediction |
Zilliqa
ZIL
|
0.7806728 |
details, prediction |
IOTA
IOT
|
0.76315093 |
details, prediction |
Chiliz
CHZ
|
0.74236876 |
details, prediction |
|
Third tier
|
Elastos
ELA
|
0.7748925 |
details, prediction |
SwftCoin
SWFTC
|
0.72260165 |
details, prediction |
BABB
BAX
|
0.72149444 |
details, prediction |
Enjin Coin
ENJ
|
0.7180737 |
details, prediction |
Kambria
KAT
|
0.713187 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that FTX Token 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 FTX Token
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
0.01316165 |
details, prediction |
Ethereum
ETH
|
0.061974943 |
details, prediction |
Cardano
ADA
|
0.10028312 |
details, prediction |
ChainLink
LINK
|
0.11736871 |
details, prediction |
TRON
TRX
|
0.12340942 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.40149587 |
details, prediction |
Decred
DCR
|
-0.09809121 |
details, prediction |
Bitcoin Gold
BTG
|
0.1034449 |
details, prediction |
Dai
DAI
|
0.15433009 |
details, prediction |
Bitcoin SV
BSV
|
0.16575728 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.39083782 |
details, prediction |
Constellation
DAG
|
-0.38037592 |
details, prediction |
V Systems
VSYS
|
-0.3432168 |
details, prediction |
HEROcoin
PLAY
|
-0.048458688 |
details, prediction |
Propy
PRO
|
-0.016564457 |
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)