Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.80851454 |
details, prediction |
Bitcoin Cash
BCH
|
0.71957165 |
details, prediction |
Dogecoin
DOGE
|
0.69229895 |
details, prediction |
Stellar
XLM
|
0.6786029 |
details, prediction |
XRP
XRP
|
0.64021313 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.79264605 |
details, prediction |
QTUM
QTUM
|
0.73532254 |
details, prediction |
Theta
THETA
|
0.7237971 |
details, prediction |
0x
ZRX
|
0.721635 |
details, prediction |
Nexo
NEXO
|
0.70363885 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.8071791 |
details, prediction |
Achain
ACT
|
0.7575195 |
details, prediction |
Gas
GAS
|
0.7463442 |
details, prediction |
Wanchain
WAN
|
0.7224186 |
details, prediction |
Kyber Network
KNC
|
0.697644 |
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
|
Monero
XMR
|
0.09803549 |
details, prediction |
ChainLink
LINK
|
0.31168595 |
details, prediction |
Ethereum
ETH
|
0.32787356 |
details, prediction |
ZCash
ZEC
|
0.32828504 |
details, prediction |
TRON
TRX
|
0.4387938 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.306808 |
details, prediction |
DigiByte
DGB
|
-0.098469466 |
details, prediction |
USD//Coin
USDC
|
-0.023882136 |
details, prediction |
True USD
TUSD
|
0.020913951 |
details, prediction |
Ardor
ARDR
|
0.08153738 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.31808367 |
details, prediction |
V Systems
VSYS
|
-0.1628285 |
details, prediction |
Matrix AI Network
MAN
|
-0.07070199 |
details, prediction |
OPEN Platform
OPEN
|
-0.01360081 |
details, prediction |
Propy
PRO
|
0.13609311 |
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)