Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.8753797 |
details, prediction |
ChainLink
LINK
|
0.8723423 |
details, prediction |
Ethereum Classic
ETC
|
0.8720389 |
details, prediction |
Litecoin
LTC
|
0.84389627 |
details, prediction |
Cardano
ADA
|
0.8370123 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.8674537 |
details, prediction |
NEO
NEO
|
0.86530775 |
details, prediction |
Decentraland
MANA
|
0.8581265 |
details, prediction |
Zilliqa
ZIL
|
0.8567165 |
details, prediction |
0x
ZRX
|
0.83454704 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.89485896 |
details, prediction |
Power Ledger
POWR
|
0.8351936 |
details, prediction |
Storj
STORJ
|
0.83409804 |
details, prediction |
Civic
CVC
|
0.8146147 |
details, prediction |
ICON
ICX
|
0.814397 |
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
|
Stellar
XLM
|
-0.47061944 |
details, prediction |
UNUS SED LEO
LEO
|
-0.33450767 |
details, prediction |
TRON
TRX
|
-0.03698476 |
details, prediction |
ZCash
ZEC
|
0.024036461 |
details, prediction |
Binance Coin
BNB
|
0.4724698 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.52716243 |
details, prediction |
Dai
DAI
|
-0.48090833 |
details, prediction |
True USD
TUSD
|
-0.36485043 |
details, prediction |
OriginTrail
TRAC
|
-0.11077624 |
details, prediction |
Telcoin
TEL
|
0.05244585 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.26713127 |
details, prediction |
FunFair
FUN
|
-0.00951225 |
details, prediction |
NKN
NKN
|
0.046430904 |
details, prediction |
OPEN Platform
OPEN
|
0.079409905 |
details, prediction |
HEROcoin
PLAY
|
0.15190528 |
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)