Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.94843024 |
details, prediction |
Litecoin
LTC
|
0.93389153 |
details, prediction |
XRP
XRP
|
0.8840346 |
details, prediction |
Cardano
ADA
|
0.8645048 |
details, prediction |
Bitcoin Cash
BCH
|
0.8572315 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.9403022 |
details, prediction |
Ravencoin
RVN
|
0.93982565 |
details, prediction |
NEO
NEO
|
0.9305308 |
details, prediction |
0x
ZRX
|
0.9186105 |
details, prediction |
Decentraland
MANA
|
0.91228014 |
details, prediction |
|
Third tier
|
Power Ledger
POWR
|
0.9287787 |
details, prediction |
LAToken
LA
|
0.92820674 |
details, prediction |
Gas
GAS
|
0.9270134 |
details, prediction |
Civic
CVC
|
0.9254789 |
details, prediction |
ICON
ICX
|
0.8987567 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that KuCoin Shares 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 KuCoin Shares
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.44919997 |
details, prediction |
ZCash
ZEC
|
-0.2550197 |
details, prediction |
TRON
TRX
|
-0.081086814 |
details, prediction |
UNUS SED LEO
LEO
|
0.010306758 |
details, prediction |
Binance Coin
BNB
|
0.34201476 |
details, prediction |
|
Second tier
|
OriginTrail
TRAC
|
-0.4443717 |
details, prediction |
Dai
DAI
|
-0.44375265 |
details, prediction |
USD//Coin
USDC
|
-0.34040323 |
details, prediction |
Telcoin
TEL
|
-0.33177385 |
details, prediction |
True USD
TUSD
|
-0.13296063 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.5362213 |
details, prediction |
Komodo
KMD
|
-0.46636513 |
details, prediction |
V Systems
VSYS
|
-0.33447623 |
details, prediction |
Loopring
LRC
|
-0.27254626 |
details, prediction |
Chronobank
TIME
|
-0.012497178 |
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)