Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.95312786 |
details, prediction |
Cardano
ADA
|
0.9508322 |
details, prediction |
Dogecoin
DOGE
|
0.9415874 |
details, prediction |
Bitcoin
BTC
|
0.93712527 |
details, prediction |
XRP
XRP
|
0.9352022 |
details, prediction |
|
Second tier
|
Verge
XVG
|
0.97219193 |
details, prediction |
Synthetix Network Token
SNX
|
0.96658677 |
details, prediction |
Ravencoin
RVN
|
0.9632938 |
details, prediction |
Vechain
VET
|
0.9625859 |
details, prediction |
Waves
WAVES
|
0.95912 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.9652585 |
details, prediction |
Lisk
LSK
|
0.9649643 |
details, prediction |
Kyber Network
KNC
|
0.9604107 |
details, prediction |
ARK
ARK
|
0.9600435 |
details, prediction |
ICON
ICX
|
0.95805514 |
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
|
-0.53292453 |
details, prediction |
TRON
TRX
|
0.123080686 |
details, prediction |
ZCash
ZEC
|
0.22161213 |
details, prediction |
Binance Coin
BNB
|
0.7456926 |
details, prediction |
Monero
XMR
|
0.8267448 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.91681635 |
details, prediction |
Dai
DAI
|
-0.8221826 |
details, prediction |
True USD
TUSD
|
-0.64146465 |
details, prediction |
Telcoin
TEL
|
0.41811204 |
details, prediction |
OriginTrail
TRAC
|
0.4390175 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.1919358 |
details, prediction |
Matrix AI Network
MAN
|
-0.14972712 |
details, prediction |
V Systems
VSYS
|
-0.055443276 |
details, prediction |
Phantasma
SOUL
|
-0.014271495 |
details, prediction |
NKN
NKN
|
0.3540601 |
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)