Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.7243316 |
details, prediction |
Ethereum Classic
ETC
|
0.625799 |
details, prediction |
Monero
XMR
|
0.6017983 |
details, prediction |
ChainLink
LINK
|
0.5785307 |
details, prediction |
Bitcoin
BTC
|
0.5753765 |
details, prediction |
|
Second tier
|
Theta
THETA
|
0.7538623 |
details, prediction |
DASH
DASH
|
0.74836594 |
details, prediction |
iEx.ec
RLC
|
0.7331347 |
details, prediction |
0x
ZRX
|
0.6736537 |
details, prediction |
Synthetix Network Token
SNX
|
0.6101543 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.77454144 |
details, prediction |
Bancor
BNT
|
0.67835003 |
details, prediction |
Storj
STORJ
|
0.63328874 |
details, prediction |
Metal
MTL
|
0.6318898 |
details, prediction |
ICON
ICX
|
0.63120824 |
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
|
Stellar
XLM
|
-0.25112903 |
details, prediction |
TRON
TRX
|
-0.007042205 |
details, prediction |
Crypto.com Chain
CRO
|
0.0077273133 |
details, prediction |
UNUS SED LEO
LEO
|
0.060946934 |
details, prediction |
Bitcoin Cash
BCH
|
0.13032645 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.62430835 |
details, prediction |
USD//Coin
USDC
|
-0.5467538 |
details, prediction |
Verge
XVG
|
-0.16257243 |
details, prediction |
Decred
DCR
|
-0.1569703 |
details, prediction |
Bitcoin Gold
BTG
|
-0.1105956 |
details, prediction |
|
Third tier
|
Phantasma
SOUL
|
-0.5599757 |
details, prediction |
BABB
BAX
|
-0.41631025 |
details, prediction |
NKN
NKN
|
-0.36885393 |
details, prediction |
FunFair
FUN
|
-0.36595568 |
details, prediction |
Dent
DENT
|
-0.3527648 |
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)