Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9106825 |
details, prediction |
Litecoin
LTC
|
0.8243023 |
details, prediction |
KuCoin Shares
KCS
|
0.7933936 |
details, prediction |
Bitcoin Cash
BCH
|
0.73693746 |
details, prediction |
XRP
XRP
|
0.72505474 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.89168185 |
details, prediction |
Vechain
VET
|
0.88216364 |
details, prediction |
Decentraland
MANA
|
0.8648337 |
details, prediction |
Nexo
NEXO
|
0.85998505 |
details, prediction |
Bitcoin SV
BSV
|
0.84754866 |
details, prediction |
|
Third tier
|
Power Ledger
POWR
|
0.895835 |
details, prediction |
LAToken
LA
|
0.895566 |
details, prediction |
Metal
MTL
|
0.89136755 |
details, prediction |
Lisk
LSK
|
0.8812526 |
details, prediction |
QuarkChain
QKC
|
0.87360054 |
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
|
-0.61272156 |
details, prediction |
UNUS SED LEO
LEO
|
-0.24557823 |
details, prediction |
TRON
TRX
|
-0.21902542 |
details, prediction |
Binance Coin
BNB
|
-0.10704383 |
details, prediction |
ZCash
ZEC
|
-0.05685788 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.69420713 |
details, prediction |
USD//Coin
USDC
|
-0.545076 |
details, prediction |
OriginTrail
TRAC
|
-0.47424898 |
details, prediction |
Telcoin
TEL
|
-0.36267206 |
details, prediction |
True USD
TUSD
|
-0.015263099 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.68288714 |
details, prediction |
Dero
DERO
|
-0.26820284 |
details, prediction |
Komodo
KMD
|
-0.20401533 |
details, prediction |
V Systems
VSYS
|
-0.17839438 |
details, prediction |
NKN
NKN
|
-0.10248245 |
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)