Highly correlated currencies
Coin |
Correlation |
Links |
First tier
|
Fantom
FTM
|
0.7784481 |
details, prediction |
IOTA
IOT
|
0.77620703 |
details, prediction |
SONM
SNM
|
0.76841944 |
details, prediction |
ChainLink
LINK
|
0.7595155 |
details, prediction |
Matic Network
MATIC
|
0.7518412 |
details, prediction |
Second tier
|
SysCoin
SYS
|
0.8421877 |
details, prediction |
Stox
STX
|
0.82069564 |
details, prediction |
XYO Network
XYO
|
0.8180776 |
details, prediction |
Algorand
ALGO
|
0.8066559 |
details, prediction |
Ravencoin
RVN
|
0.7933527 |
details, prediction |
Third tier
|
Blue Whale
BWX
|
0.9108695 |
details, prediction |
Kambria
KAT
|
0.9040476 |
details, prediction |
Lambda
LAMB
|
0.8883976 |
details, prediction |
ReddCoin
RDD
|
0.85902095 |
details, prediction |
MyriadCoin
XMY
|
0.8551648 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Simple 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 Simple Token
Low correlated currencies
Coin |
Correlation |
Links |
First tier
|
Monero
XMR
|
-0.46534416 |
details, prediction |
UNUS SED LEO
LEO
|
-0.29815522 |
details, prediction |
TRON
TRX
|
-0.054490358 |
details, prediction |
Ethereum Classic
ETC
|
-0.020022532 |
details, prediction |
KuCoin Shares
KCS
|
0.029227197 |
details, prediction |
Second tier
|
HedgeTrade
HEDG
|
-0.80683863 |
details, prediction |
Kyber Network
KNC
|
-0.61583316 |
details, prediction |
Metal
MTL
|
-0.307319 |
details, prediction |
Steem
STEEM
|
-0.28584322 |
details, prediction |
ZCash
ZEC
|
-0.26670796 |
details, prediction |
Third tier
|
Quantum Resistant Ledger
QRL
|
-0.7192457 |
details, prediction |
Time New Bank
TNB
|
-0.6514915 |
details, prediction |
SibCoin
SIB
|
-0.6004563 |
details, prediction |
Seele
SEELE
|
-0.57823753 |
details, prediction |
Tidex Token
TDX
|
-0.490684 |
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)