Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
KuCoin Shares
KCS
|
0.5971185 |
details, prediction |
Bitcoin Cash
BCH
|
0.58922666 |
details, prediction |
Cardano
ADA
|
0.47114077 |
details, prediction |
Ethereum Classic
ETC
|
0.44532242 |
details, prediction |
Dogecoin
DOGE
|
0.43239143 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.877302 |
details, prediction |
Basic Attention Token
BAT
|
0.8666247 |
details, prediction |
Zilliqa
ZIL
|
0.85188097 |
details, prediction |
Vechain
VET
|
0.8490513 |
details, prediction |
iEx.ec
RLC
|
0.81556094 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.96018034 |
details, prediction |
Power Ledger
POWR
|
0.8788257 |
details, prediction |
AdEx
ADX
|
0.8523704 |
details, prediction |
ARK
ARK
|
0.8190135 |
details, prediction |
Lisk
LSK
|
0.7829798 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ICON 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 ICON
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.38056996 |
details, prediction |
TRON
TRX
|
-0.36302257 |
details, prediction |
Ethereum
ETH
|
-0.10424377 |
details, prediction |
Litecoin
LTC
|
0.011561432 |
details, prediction |
Binance Coin
BNB
|
0.1216203 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
-0.40703672 |
details, prediction |
Decred
DCR
|
-0.33408684 |
details, prediction |
Dai
DAI
|
-0.2622859 |
details, prediction |
USD//Coin
USDC
|
-0.15967533 |
details, prediction |
Telcoin
TEL
|
0.027969286 |
details, prediction |
|
Third tier
|
Steem
STEEM
|
-0.5568223 |
details, prediction |
Constellation
DAG
|
-0.5359935 |
details, prediction |
V Systems
VSYS
|
-0.5196969 |
details, prediction |
NKN
NKN
|
-0.3983752 |
details, prediction |
BABB
BAX
|
-0.34456936 |
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)