Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.8127954 |
details, prediction |
XRP
XRP
|
0.75268173 |
details, prediction |
Bitcoin
BTC
|
0.62011695 |
details, prediction |
Ethereum
ETH
|
0.56536585 |
details, prediction |
TRON
TRX
|
0.5119435 |
details, prediction |
|
Second tier
|
Algorand
ALGO
|
0.65375155 |
details, prediction |
DigiByte
DGB
|
0.6336016 |
details, prediction |
XYO Network
XYO
|
0.63351774 |
details, prediction |
Request Network
REQ
|
0.6142598 |
details, prediction |
Nexo
NEXO
|
0.5935532 |
details, prediction |
|
Third tier
|
Elastos
ELA
|
0.87060535 |
details, prediction |
Ontology
ONT
|
0.7469295 |
details, prediction |
Wanchain
WAN
|
0.6879888 |
details, prediction |
BABB
BAX
|
0.6802191 |
details, prediction |
SysCoin
SYS
|
0.65783083 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Komodo 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 Komodo
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.005418645 |
details, prediction |
ChainLink
LINK
|
0.024958834 |
details, prediction |
Bitcoin Cash
BCH
|
0.27641347 |
details, prediction |
Ethereum Classic
ETC
|
0.29291975 |
details, prediction |
Cardano
ADA
|
0.34890172 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
-0.18865387 |
details, prediction |
USD//Coin
USDC
|
-0.05141502 |
details, prediction |
Cosmos
ATOM
|
-0.03304825 |
details, prediction |
Vechain
VET
|
-0.027430676 |
details, prediction |
Theta
THETA
|
-0.023158295 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
-0.31785324 |
details, prediction |
OPEN Platform
OPEN
|
-0.0376489 |
details, prediction |
NEM
XEM
|
0.22107993 |
details, prediction |
BOScoin
BOS
|
0.23475869 |
details, prediction |
Stox
STX
|
0.24368852 |
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)