Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
0.9835622 |
details, prediction |
Ethereum Classic
ETC
|
0.88682103 |
details, prediction |
ChainLink
LINK
|
0.8456185 |
details, prediction |
Dogecoin
DOGE
|
0.7850594 |
details, prediction |
Bitcoin
BTC
|
0.7023086 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.76047 |
details, prediction |
DASH
DASH
|
0.6724717 |
details, prediction |
Horizen
ZEN
|
0.65452814 |
details, prediction |
0x
ZRX
|
0.64753115 |
details, prediction |
QTUM
QTUM
|
0.6470391 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.8258508 |
details, prediction |
Bancor
BNT
|
0.6993546 |
details, prediction |
Metal
MTL
|
0.6479136 |
details, prediction |
Civic
CVC
|
0.6280224 |
details, prediction |
V Systems
VSYS
|
0.5875479 |
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
|
Stellar
XLM
|
-0.40589768 |
details, prediction |
Crypto.com Chain
CRO
|
0.22406918 |
details, prediction |
Bitcoin Cash
BCH
|
0.26084307 |
details, prediction |
Binance Coin
BNB
|
0.3329062 |
details, prediction |
TRON
TRX
|
0.3635052 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.37917548 |
details, prediction |
DigiByte
DGB
|
-0.21277316 |
details, prediction |
USD//Coin
USDC
|
-0.21239233 |
details, prediction |
Verge
XVG
|
-0.17207868 |
details, prediction |
Decred
DCR
|
-0.1244182 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
-0.78813297 |
details, prediction |
Komodo
KMD
|
-0.5410851 |
details, prediction |
Chronobank
TIME
|
-0.36830893 |
details, prediction |
FunFair
FUN
|
-0.25057077 |
details, prediction |
SysCoin
SYS
|
-0.05134333 |
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)