Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.43885267 |
details, prediction |
Stellar
XLM
|
0.24604824 |
details, prediction |
Bitcoin Cash
BCH
|
0.116197534 |
details, prediction |
KuCoin Shares
KCS
|
0.08134803 |
details, prediction |
Binance Coin
BNB
|
0.018623104 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
0.5968569 |
details, prediction |
Dai
DAI
|
0.5340799 |
details, prediction |
True USD
TUSD
|
0.47508568 |
details, prediction |
FTX Token
FTT
|
0.1901496 |
details, prediction |
Waves
WAVES
|
0.08136007 |
details, prediction |
|
Third tier
|
Phantasma
SOUL
|
0.44373325 |
details, prediction |
Ontology
ONT
|
0.3254875 |
details, prediction |
V Systems
VSYS
|
0.28609043 |
details, prediction |
Kyber Network
KNC
|
0.25149116 |
details, prediction |
Dero
DERO
|
0.18051979 |
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
|
Bitcoin
BTC
|
-0.24404937 |
details, prediction |
Monero
XMR
|
-0.16516747 |
details, prediction |
Crypto.com Chain
CRO
|
-0.16465577 |
details, prediction |
ZCash
ZEC
|
-0.15365447 |
details, prediction |
Cardano
ADA
|
-0.1398153 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.4389374 |
details, prediction |
Cosmos
ATOM
|
-0.41604275 |
details, prediction |
Bitcoin SV
BSV
|
-0.37307814 |
details, prediction |
Theta
THETA
|
-0.26575607 |
details, prediction |
0x
ZRX
|
-0.25698054 |
details, prediction |
|
Third tier
|
NEM
XEM
|
-0.55012965 |
details, prediction |
LAToken
LA
|
-0.50909364 |
details, prediction |
AdEx
ADX
|
-0.2826948 |
details, prediction |
Loopring
LRC
|
-0.2559753 |
details, prediction |
Hydro Protocol
HOT
|
-0.24096896 |
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)