Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Monero
XMR
|
0.66825056 |
details, prediction |
Dogecoin
DOGE
|
0.6371138 |
details, prediction |
Bitcoin
BTC
|
0.6123003 |
details, prediction |
ChainLink
LINK
|
0.51671654 |
details, prediction |
XRP
XRP
|
0.4079565 |
details, prediction |
|
Second tier
|
Cosmos
ATOM
|
0.70427513 |
details, prediction |
Horizen
ZEN
|
0.62512404 |
details, prediction |
Theta
THETA
|
0.56546944 |
details, prediction |
Decentraland
MANA
|
0.55158705 |
details, prediction |
0x
ZRX
|
0.5073769 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.7773513 |
details, prediction |
Bancor
BNT
|
0.65821695 |
details, prediction |
Stox
STX
|
0.6188819 |
details, prediction |
NEM
XEM
|
0.52467096 |
details, prediction |
Chronobank
TIME
|
0.46313217 |
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
|
-0.31409058 |
details, prediction |
Stellar
XLM
|
-0.29628202 |
details, prediction |
Bitcoin Cash
BCH
|
-0.11802645 |
details, prediction |
KuCoin Shares
KCS
|
0.082754456 |
details, prediction |
Crypto.com Chain
CRO
|
0.18871088 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.60589147 |
details, prediction |
Dai
DAI
|
-0.5343209 |
details, prediction |
True USD
TUSD
|
-0.42317167 |
details, prediction |
aelf
ELF
|
-0.24385008 |
details, prediction |
Verge
XVG
|
-0.23390329 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.57511175 |
details, prediction |
Phantasma
SOUL
|
-0.55599636 |
details, prediction |
Ontology
ONT
|
-0.47652254 |
details, prediction |
V Systems
VSYS
|
-0.4182384 |
details, prediction |
Steem
STEEM
|
-0.36938736 |
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)