Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.9144781 |
details, prediction |
Bitcoin Cash
BCH
|
0.9086394 |
details, prediction |
Cardano
ADA
|
0.8961474 |
details, prediction |
Bitcoin
BTC
|
0.8959153 |
details, prediction |
Litecoin
LTC
|
0.8793692 |
details, prediction |
|
Second tier
|
Waves
WAVES
|
0.93647736 |
details, prediction |
Decentraland
MANA
|
0.9282673 |
details, prediction |
Vechain
VET
|
0.92143315 |
details, prediction |
Status
SNT
|
0.91939604 |
details, prediction |
0x
ZRX
|
0.9186305 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.9137255 |
details, prediction |
ICON
ICX
|
0.8998187 |
details, prediction |
Civic
CVC
|
0.89209336 |
details, prediction |
ARK
ARK
|
0.8885765 |
details, prediction |
Enjin Coin
ENJ
|
0.888003 |
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
|
-0.3155491 |
details, prediction |
ZCash
ZEC
|
-0.027171029 |
details, prediction |
TRON
TRX
|
0.12358376 |
details, prediction |
Binance Coin
BNB
|
0.66981673 |
details, prediction |
Monero
XMR
|
0.6747569 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.8175898 |
details, prediction |
Dai
DAI
|
-0.7499228 |
details, prediction |
True USD
TUSD
|
-0.50965995 |
details, prediction |
OriginTrail
TRAC
|
0.15242973 |
details, prediction |
Telcoin
TEL
|
0.22495513 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.46365038 |
details, prediction |
Propy
PRO
|
-0.024292493 |
details, prediction |
Matrix AI Network
MAN
|
0.047517695 |
details, prediction |
Phantasma
SOUL
|
0.23527397 |
details, prediction |
Constellation
DAG
|
0.30498183 |
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)