Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
0.96627086 |
details, prediction |
Ethereum Classic
ETC
|
0.9597447 |
details, prediction |
Dogecoin
DOGE
|
0.94734204 |
details, prediction |
Bitcoin Cash
BCH
|
0.89282364 |
details, prediction |
KuCoin Shares
KCS
|
0.8629913 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.975866 |
details, prediction |
Theta Fuel
TFUEL
|
0.9706858 |
details, prediction |
QTUM
QTUM
|
0.95809263 |
details, prediction |
Theta
THETA
|
0.9576321 |
details, prediction |
Ravencoin
RVN
|
0.95417553 |
details, prediction |
|
Third tier
|
Kyber Network
KNC
|
0.9710264 |
details, prediction |
Gas
GAS
|
0.9658691 |
details, prediction |
Civic
CVC
|
0.95895493 |
details, prediction |
ARK
ARK
|
0.95836264 |
details, prediction |
Steem
STEEM
|
0.95783645 |
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
|
0.08184726 |
details, prediction |
Monero
XMR
|
0.30933058 |
details, prediction |
Ethereum
ETH
|
0.5036313 |
details, prediction |
ZCash
ZEC
|
0.60759705 |
details, prediction |
ChainLink
LINK
|
0.6302544 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.7340162 |
details, prediction |
USD//Coin
USDC
|
-0.37754634 |
details, prediction |
True USD
TUSD
|
-0.28654516 |
details, prediction |
DigiByte
DGB
|
-0.06386679 |
details, prediction |
Bitcoin SV
BSV
|
0.31248486 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.39051926 |
details, prediction |
NKN
NKN
|
-0.24397184 |
details, prediction |
V Systems
VSYS
|
-0.17860536 |
details, prediction |
Phantasma
SOUL
|
-0.024041051 |
details, prediction |
Matrix AI Network
MAN
|
-0.022316769 |
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)