Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.782648 |
details, prediction |
Litecoin
LTC
|
0.5104443 |
details, prediction |
Bitcoin Cash
BCH
|
0.39797938 |
details, prediction |
XRP
XRP
|
0.39413518 |
details, prediction |
ChainLink
LINK
|
0.35795212 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
0.7306781 |
details, prediction |
Bitcoin SV
BSV
|
0.64777106 |
details, prediction |
0x
ZRX
|
0.6465733 |
details, prediction |
Status
SNT
|
0.6254646 |
details, prediction |
HoloToken
HOT
|
0.57198733 |
details, prediction |
|
Third tier
|
LAToken
LA
|
0.9557046 |
details, prediction |
Gas
GAS
|
0.63266546 |
details, prediction |
AdEx
ADX
|
0.6118425 |
details, prediction |
Hydro Protocol
HOT
|
0.5798818 |
details, prediction |
Metal
MTL
|
0.5552913 |
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
|
Ethereum Classic
ETC
|
-0.20513934 |
details, prediction |
ZCash
ZEC
|
-0.20447677 |
details, prediction |
TRON
TRX
|
-0.09790541 |
details, prediction |
Cardano
ADA
|
-0.060291503 |
details, prediction |
Crypto.com Chain
CRO
|
-0.0466278 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
-0.56989855 |
details, prediction |
Dai
DAI
|
-0.46830732 |
details, prediction |
OriginTrail
TRAC
|
-0.4223898 |
details, prediction |
Bitcoin Gold
BTG
|
-0.28118563 |
details, prediction |
USD//Coin
USDC
|
-0.17287892 |
details, prediction |
|
Third tier
|
Dero
DERO
|
-0.6292715 |
details, prediction |
Constellation
DAG
|
-0.57481045 |
details, prediction |
FunFair
FUN
|
-0.5362213 |
details, prediction |
Komodo
KMD
|
-0.46636513 |
details, prediction |
V Systems
VSYS
|
-0.4379762 |
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)