Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.88878256 |
details, prediction |
Bitcoin Cash
BCH
|
0.8786543 |
details, prediction |
KuCoin Shares
KCS
|
0.86079323 |
details, prediction |
Litecoin
LTC
|
0.8545749 |
details, prediction |
Bitcoin
BTC
|
0.81193674 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.8855015 |
details, prediction |
NEO
NEO
|
0.8854236 |
details, prediction |
HoloToken
HOT
|
0.87464815 |
details, prediction |
Tezos
XTZ
|
0.8710476 |
details, prediction |
Decentraland
MANA
|
0.8679319 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.85627496 |
details, prediction |
Hydro Protocol
HOT
|
0.8560721 |
details, prediction |
Gas
GAS
|
0.8551781 |
details, prediction |
IoTeX
IOTX
|
0.8239844 |
details, prediction |
Electroneum
ETN
|
0.81034946 |
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
|
TRON
TRX
|
0.3417397 |
details, prediction |
Monero
XMR
|
0.6753214 |
details, prediction |
Ethereum
ETH
|
0.7425564 |
details, prediction |
ZCash
ZEC
|
0.74922067 |
details, prediction |
Binance Coin
BNB
|
0.76426387 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.53246886 |
details, prediction |
USD//Coin
USDC
|
-0.12734827 |
details, prediction |
True USD
TUSD
|
-0.0762469 |
details, prediction |
DigiByte
DGB
|
0.11961911 |
details, prediction |
aelf
ELF
|
0.3280329 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.6597738 |
details, prediction |
HEROcoin
PLAY
|
-0.5411012 |
details, prediction |
ICON
ICX
|
-0.5220067 |
details, prediction |
NKN
NKN
|
-0.43086725 |
details, prediction |
Propy
PRO
|
-0.41327572 |
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)