Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9717776 |
details, prediction |
Litecoin
LTC
|
0.9491407 |
details, prediction |
XRP
XRP
|
0.94372797 |
details, prediction |
Cardano
ADA
|
0.9341224 |
details, prediction |
KuCoin Shares
KCS
|
0.9246452 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.968188 |
details, prediction |
Zilliqa
ZIL
|
0.96620625 |
details, prediction |
Ravencoin
RVN
|
0.9585578 |
details, prediction |
Status
SNT
|
0.95799184 |
details, prediction |
Decentraland
MANA
|
0.95262414 |
details, prediction |
|
Third tier
|
Lisk
LSK
|
0.9605819 |
details, prediction |
ARK
ARK
|
0.95641226 |
details, prediction |
LAToken
LA
|
0.95250946 |
details, prediction |
Gas
GAS
|
0.95017827 |
details, prediction |
Internet of Services
IOST
|
0.94844073 |
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
|
-0.67197996 |
details, prediction |
ZCash
ZEC
|
-0.064663045 |
details, prediction |
TRON
TRX
|
0.015298298 |
details, prediction |
Binance Coin
BNB
|
0.5332966 |
details, prediction |
Monero
XMR
|
0.6685278 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.7641376 |
details, prediction |
Dai
DAI
|
-0.7418157 |
details, prediction |
True USD
TUSD
|
-0.38300577 |
details, prediction |
Telcoin
TEL
|
-0.3051286 |
details, prediction |
OriginTrail
TRAC
|
-0.17116351 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.7171318 |
details, prediction |
Komodo
KMD
|
-0.26759246 |
details, prediction |
V Systems
VSYS
|
-0.07918443 |
details, prediction |
Matrix AI Network
MAN
|
0.1695223 |
details, prediction |
Chronobank
TIME
|
0.23858654 |
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)