Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Nexo
NEXO
|
0.82809895 |
details, prediction |
FTX Token
FTT
|
0.8072041 |
details, prediction |
Ethereum
ETH
|
0.7990297 |
details, prediction |
Binance Coin
BNB
|
0.7960819 |
details, prediction |
Bitcoin
BTC
|
0.78642 |
details, prediction |
Second tier
|
Gnosis
GNO
|
0.8417091 |
details, prediction |
Bancor
BNT
|
0.8261771 |
details, prediction |
SwissBorg
CHSB
|
0.8170904 |
details, prediction |
Synthetix Network Token
SNX
|
0.81586194 |
details, prediction |
RSK Infrastructure Framework
RIF
|
0.79430354 |
details, prediction |
Third tier
|
Linker Coin
LNC
|
0.9131333 |
details, prediction |
Haven Protocol
XHV
|
0.85354394 |
details, prediction |
Measurable Data Token
MDT
|
0.8440147 |
details, prediction |
Mysterium
MYST
|
0.83137774 |
details, prediction |
NameCoin
NMC
|
0.82607913 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Nimiq 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 Nimiq
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
XRP
XRP
|
-0.35476717 |
details, prediction |
Crypto.com Chain
CRO
|
0.0662459 |
details, prediction |
Waves
WAVES
|
0.12698555 |
details, prediction |
Bitcoin SV
BSV
|
0.20101574 |
details, prediction |
OmiseGo
OMG
|
0.20139667 |
details, prediction |
Second tier
|
DxChain
DX
|
-0.672101 |
details, prediction |
GlitzKoin
GTN
|
-0.54618245 |
details, prediction |
Centrality
CENNZ
|
-0.5335354 |
details, prediction |
Dai
DAI
|
-0.34744474 |
details, prediction |
True USD
TUSD
|
-0.28436136 |
details, prediction |
Third tier
|
Seele
SEELE
|
-0.74910754 |
details, prediction |
Digitex Futures
DGTX
|
-0.698197 |
details, prediction |
Modum
MOD
|
-0.6832112 |
details, prediction |
Wings DAO
WINGS
|
-0.66830426 |
details, prediction |
Libra Credit
LBA
|
-0.66785455 |
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)