Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.8144967 |
details, prediction |
Bitcoin
BTC
|
0.7782445 |
details, prediction |
Ethereum Classic
ETC
|
0.76954883 |
details, prediction |
Dogecoin
DOGE
|
0.7548373 |
details, prediction |
XRP
XRP
|
0.75209713 |
details, prediction |
|
Second tier
|
FTX Token
FTT
|
0.86079323 |
details, prediction |
IOTA
IOT
|
0.84069496 |
details, prediction |
Decentraland
MANA
|
0.8112864 |
details, prediction |
Nexo
NEXO
|
0.7891646 |
details, prediction |
NEO
NEO
|
0.78130645 |
details, prediction |
|
Third tier
|
Bancor
BNT
|
0.7897249 |
details, prediction |
Ontology
ONT
|
0.7804027 |
details, prediction |
Gas
GAS
|
0.77991194 |
details, prediction |
Hydro Protocol
HOT
|
0.7777623 |
details, prediction |
AdEx
ADX
|
0.7719395 |
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
|
0.36800173 |
details, prediction |
Monero
XMR
|
0.5570683 |
details, prediction |
ZCash
ZEC
|
0.5992421 |
details, prediction |
Binance Coin
BNB
|
0.68311524 |
details, prediction |
Ethereum
ETH
|
0.6968154 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.4122812 |
details, prediction |
USD//Coin
USDC
|
0.0053909915 |
details, prediction |
True USD
TUSD
|
0.06102534 |
details, prediction |
DigiByte
DGB
|
0.077526055 |
details, prediction |
aelf
ELF
|
0.37701723 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.6200365 |
details, prediction |
OPEN Platform
OPEN
|
-0.5887084 |
details, prediction |
HEROcoin
PLAY
|
-0.5029677 |
details, prediction |
ICON
ICX
|
-0.45674342 |
details, prediction |
Matrix AI Network
MAN
|
-0.37005588 |
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)