Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.790476 |
details, prediction |
Maker
MKR
|
0.7273902 |
details, prediction |
Cardano
ADA
|
0.6871841 |
details, prediction |
Matic Network
MATIC
|
0.6677351 |
details, prediction |
Dogecoin
DOGE
|
0.6257063 |
details, prediction |
|
Second tier
|
Decred
DCR
|
0.89674515 |
details, prediction |
Huobi Token
HT
|
0.8657545 |
details, prediction |
Synthetix Network Token
SNX
|
0.8412847 |
details, prediction |
DigiByte
DGB
|
0.82851297 |
details, prediction |
SwissBorg
CHSB
|
0.76692194 |
details, prediction |
|
Third tier
|
Global Social Chain
GSC
|
0.97202075 |
details, prediction |
Game
GTC
|
0.97001654 |
details, prediction |
Populous
PPT
|
0.9677198 |
details, prediction |
Kcash
KCASH
|
0.9428387 |
details, prediction |
Bytom
BTM
|
0.93623304 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that STK 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 STK
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Fantom
FTM
|
-0.868437 |
details, prediction |
Bitcoin
BTC
|
-0.700825 |
details, prediction |
Ethereum
ETH
|
-0.5925185 |
details, prediction |
Crypto.com Chain
CRO
|
-0.56407773 |
details, prediction |
KuCoin Shares
KCS
|
-0.49382418 |
details, prediction |
|
Second tier
|
Cosmos
ATOM
|
-0.7034127 |
details, prediction |
XYO Network
XYO
|
-0.7002104 |
details, prediction |
Algorand
ALGO
|
-0.6681518 |
details, prediction |
OriginTrail
TRAC
|
-0.64406884 |
details, prediction |
Tezos
XTZ
|
-0.6234645 |
details, prediction |
|
Third tier
|
NAGA
NGC
|
-0.82439184 |
details, prediction |
ICON
ICX
|
-0.80524415 |
details, prediction |
Rotharium
RTH
|
-0.7971832 |
details, prediction |
Propy
PRO
|
-0.77759945 |
details, prediction |
Dero
DERO
|
-0.77167976 |
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)