Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9524245 |
details, prediction |
Litecoin
LTC
|
0.9507374 |
details, prediction |
Cardano
ADA
|
0.9403209 |
details, prediction |
Monero
XMR
|
0.9394786 |
details, prediction |
Bitcoin Cash
BCH
|
0.9119875 |
details, prediction |
|
Second tier
|
Basic Attention Token
BAT
|
0.9702848 |
details, prediction |
Decentraland
MANA
|
0.96714765 |
details, prediction |
Horizen
ZEN
|
0.9659451 |
details, prediction |
Status
SNT
|
0.96389407 |
details, prediction |
DASH
DASH
|
0.96325105 |
details, prediction |
|
Third tier
|
Lisk
LSK
|
0.9747472 |
details, prediction |
Civic
CVC
|
0.9686257 |
details, prediction |
ICON
ICX
|
0.96659976 |
details, prediction |
ARK
ARK
|
0.9632401 |
details, prediction |
Storj
STORJ
|
0.9594453 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Synthetix Network Token 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 Synthetix Network Token
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.7335591 |
details, prediction |
UNUS SED LEO
LEO
|
0.034428097 |
details, prediction |
ZCash
ZEC
|
0.58355975 |
details, prediction |
Binance Coin
BNB
|
0.7061923 |
details, prediction |
Dogecoin
DOGE
|
0.75260717 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.35610494 |
details, prediction |
Decred
DCR
|
-0.0756395 |
details, prediction |
True USD
TUSD
|
0.09380792 |
details, prediction |
Nexo
NEXO
|
0.46606156 |
details, prediction |
Algorand
ALGO
|
0.53233707 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.39891458 |
details, prediction |
OPEN Platform
OPEN
|
-0.1962222 |
details, prediction |
HEROcoin
PLAY
|
-0.057428006 |
details, prediction |
LAToken
LA
|
-0.04255521 |
details, prediction |
Enjin Coin
ENJ
|
-0.026837246 |
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)