Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9155933 |
details, prediction |
Monero
XMR
|
0.9155106 |
details, prediction |
Stellar
XLM
|
0.9051438 |
details, prediction |
Cardano
ADA
|
0.8951582 |
details, prediction |
ZCash
ZEC
|
0.8803839 |
details, prediction |
|
Second tier
|
Synthetix Network Token
SNX
|
0.97143626 |
details, prediction |
Nexo
NEXO
|
0.96548986 |
details, prediction |
Theta Fuel
TFUEL
|
0.9647336 |
details, prediction |
Bitcoin Gold
BTG
|
0.9620277 |
details, prediction |
Request Network
REQ
|
0.96004516 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.98684275 |
details, prediction |
Bancor
BNT
|
0.96106046 |
details, prediction |
Lisk
LSK
|
0.9594048 |
details, prediction |
PIVX
PIVX
|
0.95817757 |
details, prediction |
ARK
ARK
|
0.9547064 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that NKN 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 NKN
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.41034874 |
details, prediction |
Binance Coin
BNB
|
-0.25648886 |
details, prediction |
Dogecoin
DOGE
|
0.23551513 |
details, prediction |
XRP
XRP
|
0.42271537 |
details, prediction |
KuCoin Shares
KCS
|
0.72493374 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5006708 |
details, prediction |
True USD
TUSD
|
-0.30967814 |
details, prediction |
Zilliqa
ZIL
|
-0.1141736 |
details, prediction |
Verge
XVG
|
0.26027623 |
details, prediction |
Decred
DCR
|
0.28552982 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
-0.7525549 |
details, prediction |
HEROcoin
PLAY
|
-0.67363286 |
details, prediction |
Dero
DERO
|
-0.19806221 |
details, prediction |
BOScoin
BOS
|
0.117095195 |
details, prediction |
Elastos
ELA
|
0.46485853 |
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)