Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.8926058 |
details, prediction |
Dogecoin
DOGE
|
0.85028595 |
details, prediction |
Ethereum Classic
ETC
|
0.8071696 |
details, prediction |
Bitcoin
BTC
|
0.76638186 |
details, prediction |
Binance Coin
BNB
|
0.764977 |
details, prediction |
|
Second tier
|
Theta
THETA
|
0.8903308 |
details, prediction |
QTUM
QTUM
|
0.8795359 |
details, prediction |
0x
ZRX
|
0.87461495 |
details, prediction |
DASH
DASH
|
0.8480186 |
details, prediction |
Vechain
VET
|
0.8364765 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
0.88584983 |
details, prediction |
Stox
STX
|
0.8808492 |
details, prediction |
Gas
GAS
|
0.8408985 |
details, prediction |
Bancor
BNT
|
0.81619114 |
details, prediction |
SingularityNET
AGI
|
0.81520224 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Nexo 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 Nexo
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.28047058 |
details, prediction |
Monero
XMR
|
0.42528257 |
details, prediction |
Ethereum
ETH
|
0.55898637 |
details, prediction |
Cardano
ADA
|
0.56333923 |
details, prediction |
ChainLink
LINK
|
0.5793751 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.387773 |
details, prediction |
USD//Coin
USDC
|
-0.1185852 |
details, prediction |
True USD
TUSD
|
-0.043223362 |
details, prediction |
DigiByte
DGB
|
0.13857372 |
details, prediction |
Waves
WAVES
|
0.18543588 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.6964029 |
details, prediction |
Matrix AI Network
MAN
|
-0.38661873 |
details, prediction |
Propy
PRO
|
-0.08305606 |
details, prediction |
V Systems
VSYS
|
-0.06713261 |
details, prediction |
ICON
ICX
|
-0.05655743 |
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)