Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.9049173 |
details, prediction |
Ethereum Classic
ETC
|
0.88709706 |
details, prediction |
Litecoin
LTC
|
0.88410616 |
details, prediction |
Binance Coin
BNB
|
0.8804831 |
details, prediction |
XRP
XRP
|
0.8483791 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.93248063 |
details, prediction |
DASH
DASH
|
0.91969675 |
details, prediction |
iEx.ec
RLC
|
0.90726227 |
details, prediction |
Horizen
ZEN
|
0.89009905 |
details, prediction |
Vechain
VET
|
0.883995 |
details, prediction |
|
Third tier
|
ICON
ICX
|
0.8886896 |
details, prediction |
Lisk
LSK
|
0.86639625 |
details, prediction |
Storj
STORJ
|
0.864693 |
details, prediction |
Civic
CVC
|
0.86216 |
details, prediction |
Power Ledger
POWR
|
0.85486406 |
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
|
-0.28232363 |
details, prediction |
ZCash
ZEC
|
0.49806932 |
details, prediction |
Crypto.com Chain
CRO
|
0.63848025 |
details, prediction |
Stellar
XLM
|
0.7019826 |
details, prediction |
Cardano
ADA
|
0.70244807 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.40909466 |
details, prediction |
Nexo
NEXO
|
-0.26343697 |
details, prediction |
HoloToken
HOT
|
0.2224866 |
details, prediction |
Dai
DAI
|
0.25101638 |
details, prediction |
Algorand
ALGO
|
0.34296373 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.38791424 |
details, prediction |
Dent
DENT
|
-0.27063814 |
details, prediction |
LAToken
LA
|
-0.21182804 |
details, prediction |
FunFair
FUN
|
-0.15999317 |
details, prediction |
Ontology
ONT
|
-0.14793672 |
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)