Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.8954876 |
details, prediction |
Litecoin
LTC
|
0.8904046 |
details, prediction |
Ethereum Classic
ETC
|
0.8821683 |
details, prediction |
Binance Coin
BNB
|
0.88182986 |
details, prediction |
Monero
XMR
|
0.8668172 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.9076395 |
details, prediction |
Basic Attention Token
BAT
|
0.8991645 |
details, prediction |
Vechain
VET
|
0.8875655 |
details, prediction |
DASH
DASH
|
0.8865173 |
details, prediction |
Horizen
ZEN
|
0.88618636 |
details, prediction |
|
Third tier
|
Lisk
LSK
|
0.9113451 |
details, prediction |
Loopring
LRC
|
0.9107882 |
details, prediction |
ARK
ARK
|
0.8952712 |
details, prediction |
Civic
CVC
|
0.8873943 |
details, prediction |
SingularityNET
AGI
|
0.88679856 |
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
|
-0.63692594 |
details, prediction |
ZCash
ZEC
|
0.34248987 |
details, prediction |
Stellar
XLM
|
0.57173085 |
details, prediction |
Ethereum
ETH
|
0.73486316 |
details, prediction |
Bitcoin
BTC
|
0.7446668 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
-0.26323184 |
details, prediction |
Decred
DCR
|
-0.097087085 |
details, prediction |
Algorand
ALGO
|
0.1795952 |
details, prediction |
Dai
DAI
|
0.19675402 |
details, prediction |
HoloToken
HOT
|
0.21648414 |
details, prediction |
|
Third tier
|
Ontology
ONT
|
-0.48081833 |
details, prediction |
OPEN Platform
OPEN
|
-0.17734624 |
details, prediction |
Propy
PRO
|
-0.17451599 |
details, prediction |
V Systems
VSYS
|
-0.14931996 |
details, prediction |
NKN
NKN
|
-0.14414342 |
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)