Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
KuCoin Shares
KCS
|
0.63329476 |
details, prediction |
Crypto.com Chain
CRO
|
0.43963352 |
details, prediction |
SONM
SNM
|
0.31372637 |
details, prediction |
Fantom
FTM
|
0.27557778 |
details, prediction |
NEO
NEO
|
0.18618558 |
details, prediction |
Second tier
|
XYO Network
XYO
|
0.646733 |
details, prediction |
HedgeTrade
HEDG
|
0.60824573 |
details, prediction |
GXShares
GXS
|
0.52636 |
details, prediction |
AMO Coin
AMO
|
0.516957 |
details, prediction |
Telcoin
TEL
|
0.4728328 |
details, prediction |
Third tier
|
Xriba
XRA
|
0.7980345 |
details, prediction |
FlorinCoin
FLO
|
0.77181363 |
details, prediction |
Dether
DTH
|
0.70434 |
details, prediction |
Yggdrash
YEED
|
0.6913036 |
details, prediction |
MOAC
MOAC
|
0.676624 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ShipChain 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 ShipChain
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Cardano
ADA
|
-0.64972794 |
details, prediction |
Monero
XMR
|
-0.6222093 |
details, prediction |
XRP
XRP
|
-0.6200049 |
details, prediction |
Stellar
XLM
|
-0.5900856 |
details, prediction |
Ethereum Classic
ETC
|
-0.56925327 |
details, prediction |
Second tier
|
Zilliqa
ZIL
|
-0.66962445 |
details, prediction |
Nexo
NEXO
|
-0.5859565 |
details, prediction |
Waves
WAVES
|
-0.5844087 |
details, prediction |
ZCash
ZEC
|
-0.57775354 |
details, prediction |
NEM
XEM
|
-0.56804764 |
details, prediction |
Third tier
|
AICHAIN
AIT
|
-0.719085 |
details, prediction |
SALT
SALT
|
-0.6992949 |
details, prediction |
Napoleon X
NPX
|
-0.6947026 |
details, prediction |
Platincoin
PLC
|
-0.6622801 |
details, prediction |
INS Ecosystem
INS
|
-0.6514512 |
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)