Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9469397 |
details, prediction |
Cardano
ADA
|
0.93939674 |
details, prediction |
Crypto.com Chain
CRO
|
0.91799146 |
details, prediction |
Litecoin
LTC
|
0.90164614 |
details, prediction |
KuCoin Shares
KCS
|
0.895403 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.9822942 |
details, prediction |
Basic Attention Token
BAT
|
0.97739714 |
details, prediction |
Synthetix Network Token
SNX
|
0.97507685 |
details, prediction |
0x
ZRX
|
0.96746045 |
details, prediction |
aelf
ELF
|
0.9645956 |
details, prediction |
|
Third tier
|
Lisk
LSK
|
0.98834175 |
details, prediction |
Bancor
BNT
|
0.9856788 |
details, prediction |
Power Ledger
POWR
|
0.9784793 |
details, prediction |
Civic
CVC
|
0.9780789 |
details, prediction |
SwftCoin
SWFTC
|
0.9771985 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Horizen 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 Horizen
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.69500744 |
details, prediction |
UNUS SED LEO
LEO
|
0.24958701 |
details, prediction |
ZCash
ZEC
|
0.615039 |
details, prediction |
Binance Coin
BNB
|
0.62011075 |
details, prediction |
Dogecoin
DOGE
|
0.7365365 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.45869386 |
details, prediction |
Decred
DCR
|
-0.1525302 |
details, prediction |
True USD
TUSD
|
0.09239165 |
details, prediction |
Algorand
ALGO
|
0.52750254 |
details, prediction |
Verge
XVG
|
0.52755535 |
details, prediction |
|
Third tier
|
Kambria
KAT
|
-0.33832127 |
details, prediction |
Ontology
ONT
|
-0.31901368 |
details, prediction |
HEROcoin
PLAY
|
-0.003599006 |
details, prediction |
OPEN Platform
OPEN
|
0.049425732 |
details, prediction |
Dent
DENT
|
0.080971316 |
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)