Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.89543205 |
details, prediction |
Cardano
ADA
|
0.84706706 |
details, prediction |
KuCoin Shares
KCS
|
0.75191694 |
details, prediction |
XRP
XRP
|
0.73957735 |
details, prediction |
Ethereum Classic
ETC
|
0.7326807 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.9503243 |
details, prediction |
Theta Fuel
TFUEL
|
0.9343025 |
details, prediction |
Siacoin
SC
|
0.9222372 |
details, prediction |
IOTA
IOT
|
0.91617894 |
details, prediction |
Ardor
ARDR
|
0.9160186 |
details, prediction |
|
Third tier
|
Elastos
ELA
|
0.96039927 |
details, prediction |
Loopring
LRC
|
0.9380825 |
details, prediction |
IoTeX
IOTX
|
0.92003685 |
details, prediction |
Stox
STX
|
0.9143948 |
details, prediction |
Matrix AI Network
MAN
|
0.91171765 |
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
|
TRON
TRX
|
-0.8130191 |
details, prediction |
ZCash
ZEC
|
-0.044976797 |
details, prediction |
UNUS SED LEO
LEO
|
0.048837774 |
details, prediction |
Ethereum
ETH
|
0.3149586 |
details, prediction |
Bitcoin
BTC
|
0.33438048 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.0012772781 |
details, prediction |
Nexo
NEXO
|
0.0020164738 |
details, prediction |
Algorand
ALGO
|
0.009966486 |
details, prediction |
Decred
DCR
|
0.040054977 |
details, prediction |
True USD
TUSD
|
0.13563286 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.6824621 |
details, prediction |
OPEN Platform
OPEN
|
-0.5444889 |
details, prediction |
Enjin Coin
ENJ
|
-0.48322713 |
details, prediction |
Kambria
KAT
|
-0.24984646 |
details, prediction |
HEROcoin
PLAY
|
-0.119456515 |
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)