Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.95424473 |
details, prediction |
Cardano
ADA
|
0.95118105 |
details, prediction |
Ethereum Classic
ETC
|
0.9461521 |
details, prediction |
Litecoin
LTC
|
0.92907727 |
details, prediction |
Monero
XMR
|
0.91427046 |
details, prediction |
|
Second tier
|
Horizen
ZEN
|
0.98574346 |
details, prediction |
Basic Attention Token
BAT
|
0.9849981 |
details, prediction |
Telcoin
TEL
|
0.9819563 |
details, prediction |
QTUM
QTUM
|
0.9764279 |
details, prediction |
DASH
DASH
|
0.9762938 |
details, prediction |
|
Third tier
|
Lisk
LSK
|
0.99438804 |
details, prediction |
Bancor
BNT
|
0.9943602 |
details, prediction |
Civic
CVC
|
0.98698884 |
details, prediction |
PIVX
PIVX
|
0.98312926 |
details, prediction |
Metal
MTL
|
0.98262244 |
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
|
-0.34736952 |
details, prediction |
UNUS SED LEO
LEO
|
0.09719676 |
details, prediction |
Binance Coin
BNB
|
0.34684184 |
details, prediction |
Dogecoin
DOGE
|
0.4929651 |
details, prediction |
XRP
XRP
|
0.7169238 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.40033817 |
details, prediction |
Decred
DCR
|
-0.25037858 |
details, prediction |
True USD
TUSD
|
-0.020632287 |
details, prediction |
Zilliqa
ZIL
|
0.24815783 |
details, prediction |
Verge
XVG
|
0.35052896 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
-0.32583627 |
details, prediction |
HEROcoin
PLAY
|
-0.2374855 |
details, prediction |
BABB
BAX
|
-0.021220706 |
details, prediction |
Dero
DERO
|
0.019963542 |
details, prediction |
Dent
DENT
|
0.26789036 |
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)