Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.9665633 |
details, prediction |
Bitcoin Cash
BCH
|
0.95652056 |
details, prediction |
Litecoin
LTC
|
0.95102596 |
details, prediction |
Bitcoin
BTC
|
0.9505378 |
details, prediction |
Ethereum Classic
ETC
|
0.9380617 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.9266934 |
details, prediction |
NEO
NEO
|
0.9252528 |
details, prediction |
Bitcoin Gold
BTG
|
0.9236486 |
details, prediction |
Request Network
REQ
|
0.9212806 |
details, prediction |
DASH
DASH
|
0.91929656 |
details, prediction |
|
Third tier
|
Internet of Services
IOST
|
0.9219883 |
details, prediction |
IoTeX
IOTX
|
0.91631204 |
details, prediction |
ICON
ICX
|
0.910054 |
details, prediction |
Kyber Network
KNC
|
0.90590477 |
details, prediction |
Loopring
LRC
|
0.90203017 |
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
|
TRON
TRX
|
-0.45125964 |
details, prediction |
UNUS SED LEO
LEO
|
0.22113557 |
details, prediction |
ChainLink
LINK
|
0.66382444 |
details, prediction |
Crypto.com Chain
CRO
|
0.7139061 |
details, prediction |
Binance Coin
BNB
|
0.7800318 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.7416707 |
details, prediction |
Dai
DAI
|
-0.25629723 |
details, prediction |
True USD
TUSD
|
0.2390694 |
details, prediction |
Verge
XVG
|
0.25154394 |
details, prediction |
Nexo
NEXO
|
0.3081481 |
details, prediction |
|
Third tier
|
Dent
DENT
|
-0.5276787 |
details, prediction |
BABB
BAX
|
-0.15656139 |
details, prediction |
Propy
PRO
|
-0.11913513 |
details, prediction |
FunFair
FUN
|
0.14959882 |
details, prediction |
OPEN Platform
OPEN
|
0.2216063 |
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)