Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.770461 |
details, prediction |
Dogecoin
DOGE
|
0.70110714 |
details, prediction |
Ethereum Classic
ETC
|
0.6546006 |
details, prediction |
Bitcoin Cash
BCH
|
0.590804 |
details, prediction |
XRP
XRP
|
0.5536163 |
details, prediction |
|
Second tier
|
iEx.ec
RLC
|
0.8228888 |
details, prediction |
IOTA
IOT
|
0.78369564 |
details, prediction |
FTX Token
FTT
|
0.76244664 |
details, prediction |
Synthetix Network Token
SNX
|
0.68782836 |
details, prediction |
Nexo
NEXO
|
0.68114614 |
details, prediction |
|
Third tier
|
Achain
ACT
|
0.72810835 |
details, prediction |
PIVX
PIVX
|
0.7098798 |
details, prediction |
Ontology
ONT
|
0.58905935 |
details, prediction |
Gas
GAS
|
0.5864258 |
details, prediction |
Enjin Coin
ENJ
|
0.58631605 |
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
|
0.045335963 |
details, prediction |
ZCash
ZEC
|
0.16900092 |
details, prediction |
Cardano
ADA
|
0.24661122 |
details, prediction |
Ethereum
ETH
|
0.24741723 |
details, prediction |
ChainLink
LINK
|
0.2627927 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.48089775 |
details, prediction |
DigiByte
DGB
|
-0.18896675 |
details, prediction |
Decred
DCR
|
-0.064419545 |
details, prediction |
Ardor
ARDR
|
0.14298223 |
details, prediction |
Ravencoin
RVN
|
0.21678783 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.5997208 |
details, prediction |
V Systems
VSYS
|
-0.13865285 |
details, prediction |
Matrix AI Network
MAN
|
-0.0899335 |
details, prediction |
OPEN Platform
OPEN
|
-0.07775701 |
details, prediction |
Constellation
DAG
|
-0.054909516 |
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)