Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.93579584 |
details, prediction |
KuCoin Shares
KCS
|
0.9076444 |
details, prediction |
Ethereum Classic
ETC
|
0.89479715 |
details, prediction |
Cardano
ADA
|
0.89377296 |
details, prediction |
Crypto.com Chain
CRO
|
0.8576189 |
details, prediction |
|
Second tier
|
Waves
WAVES
|
0.9615753 |
details, prediction |
Status
SNT
|
0.9584798 |
details, prediction |
Basic Attention Token
BAT
|
0.95331377 |
details, prediction |
FTX Token
FTT
|
0.95187867 |
details, prediction |
Request Network
REQ
|
0.94944453 |
details, prediction |
|
Third tier
|
IoTeX
IOTX
|
0.9579455 |
details, prediction |
Kleros
PNK
|
0.9538783 |
details, prediction |
SwftCoin
SWFTC
|
0.9483651 |
details, prediction |
Civic
CVC
|
0.9441148 |
details, prediction |
PIVX
PIVX
|
0.9417763 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Kyber Network 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 Kyber Network
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.66960293 |
details, prediction |
UNUS SED LEO
LEO
|
0.09307696 |
details, prediction |
ZCash
ZEC
|
0.43198505 |
details, prediction |
Ethereum
ETH
|
0.6267717 |
details, prediction |
Binance Coin
BNB
|
0.63828784 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.4073723 |
details, prediction |
Dai
DAI
|
-0.29271102 |
details, prediction |
True USD
TUSD
|
0.2968484 |
details, prediction |
Algorand
ALGO
|
0.33565494 |
details, prediction |
Nexo
NEXO
|
0.34231228 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.38034624 |
details, prediction |
Dent
DENT
|
-0.07520329 |
details, prediction |
Enjin Coin
ENJ
|
-0.037777387 |
details, prediction |
OPEN Platform
OPEN
|
0.0039815553 |
details, prediction |
HEROcoin
PLAY
|
0.04710576 |
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)