Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Ethereum
ETH
|
0.8634628 |
details, prediction |
EOS
EOS
|
0.8604247 |
details, prediction |
Vechain
VET
|
0.84524584 |
details, prediction |
Binance Coin
BNB
|
0.8110243 |
details, prediction |
Nexo
NEXO
|
0.8086721 |
details, prediction |
Second tier
|
Internet of Services
IOST
|
0.8797754 |
details, prediction |
Ardor
ARDR
|
0.85949 |
details, prediction |
Civic
CVC
|
0.8564713 |
details, prediction |
Siacoin
SC
|
0.85411674 |
details, prediction |
OmiseGo
OMG
|
0.8475226 |
details, prediction |
Third tier
|
Refereum
RFR
|
0.9012069 |
details, prediction |
Gifto
GTO
|
0.8851013 |
details, prediction |
Mainframe
MFT
|
0.8550344 |
details, prediction |
0chain
ZCN
|
0.8268759 |
details, prediction |
Mithril
MITH
|
0.81769115 |
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
|
0.16217828 |
details, prediction |
Fantom
FTM
|
0.19050407 |
details, prediction |
Decentraland
MANA
|
0.2716397 |
details, prediction |
UNUS SED LEO
LEO
|
0.2895986 |
details, prediction |
Cosmos
ATOM
|
0.32036766 |
details, prediction |
Second tier
|
True USD
TUSD
|
-0.72543424 |
details, prediction |
USD//Coin
USDC
|
-0.7026975 |
details, prediction |
Dai
DAI
|
-0.6456472 |
details, prediction |
Paxos Standard
PAX
|
-0.4367273 |
details, prediction |
MonaCoin
MONA
|
-0.08585259 |
details, prediction |
Third tier
|
Crypviser
CVCOIN
|
-0.7996956 |
details, prediction |
Gemini Dollar
GUSD
|
-0.62418634 |
details, prediction |
B2B
B2B
|
-0.5153538 |
details, prediction |
ILCoin
ILC
|
-0.46620545 |
details, prediction |
DigiCube
CUBE
|
-0.4560728 |
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)