Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Ethereum Classic
ETC
|
0.37917405 |
details, prediction |
Litecoin
LTC
|
0.32938778 |
details, prediction |
Bitcoin
BTC
|
0.31910747 |
details, prediction |
ChainLink
LINK
|
0.31556222 |
details, prediction |
Bitcoin Cash
BCH
|
0.3089951 |
details, prediction |
Second tier
|
Nexo
NEXO
|
0.3955604 |
details, prediction |
Waves
WAVES
|
0.36532304 |
details, prediction |
ARK
ARK
|
0.34766772 |
details, prediction |
DASH
DASH
|
0.3363429 |
details, prediction |
Aragon
ANT
|
0.33213258 |
details, prediction |
Third tier
|
Fitrova
FRV
|
0.6269208 |
details, prediction |
Project Decorum
PDC
|
0.60518783 |
details, prediction |
GoldReserve
XGR
|
0.53668755 |
details, prediction |
Colu Local Network
CLN
|
0.5187889 |
details, prediction |
FantomCoin
FCN
|
0.43039766 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that KoboCoin 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 KoboCoin
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Theta
THETA
|
-0.062029485 |
details, prediction |
Binance Coin
BNB
|
-0.05181691 |
details, prediction |
EOS
EOS
|
0.09402209 |
details, prediction |
TRON
TRX
|
0.1070321 |
details, prediction |
IOTA
IOT
|
0.18386324 |
details, prediction |
Second tier
|
Huobi Token
HT
|
-0.091833904 |
details, prediction |
Decred
DCR
|
-0.03548006 |
details, prediction |
True USD
TUSD
|
0.043758154 |
details, prediction |
Ontology
ONT
|
0.047621313 |
details, prediction |
iEx.ec
RLC
|
0.067462765 |
details, prediction |
Third tier
|
DAEX
DAX
|
-0.57773113 |
details, prediction |
Unibright
UBT
|
-0.554701 |
details, prediction |
Loyalcoin
LYL
|
-0.53608817 |
details, prediction |
DeviantCoin
DEV
|
-0.5009816 |
details, prediction |
Bitcoin Green
BITG
|
-0.46802875 |
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)