Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Litecoin
LTC
|
0.97808707 |
details, prediction |
Cardano
ADA
|
0.97300416 |
details, prediction |
Ethereum
ETH
|
0.95889026 |
details, prediction |
Bitcoin Cash
BCH
|
0.95770824 |
details, prediction |
XRP
XRP
|
0.956556 |
details, prediction |
|
Second tier
|
Tezos
XTZ
|
0.9892968 |
details, prediction |
Ravencoin
RVN
|
0.9860138 |
details, prediction |
Theta Fuel
TFUEL
|
0.9849294 |
details, prediction |
Status
SNT
|
0.98268 |
details, prediction |
Zilliqa
ZIL
|
0.98091906 |
details, prediction |
|
Third tier
|
Civic
CVC
|
0.98912513 |
details, prediction |
Lisk
LSK
|
0.98808175 |
details, prediction |
Internet of Services
IOST
|
0.98143065 |
details, prediction |
IoTeX
IOTX
|
0.9754687 |
details, prediction |
Hydro Protocol
HOT
|
0.9746565 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ARK 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 ARK
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.6136796 |
details, prediction |
ZCash
ZEC
|
-0.10467393 |
details, prediction |
TRON
TRX
|
0.01906397 |
details, prediction |
Binance Coin
BNB
|
0.59280306 |
details, prediction |
Monero
XMR
|
0.64953095 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.7216452 |
details, prediction |
Dai
DAI
|
-0.70362985 |
details, prediction |
Telcoin
TEL
|
-0.35336792 |
details, prediction |
True USD
TUSD
|
-0.33764094 |
details, prediction |
OriginTrail
TRAC
|
-0.19663693 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.6895615 |
details, prediction |
Komodo
KMD
|
-0.35766512 |
details, prediction |
V Systems
VSYS
|
-0.009673113 |
details, prediction |
Matrix AI Network
MAN
|
0.14780095 |
details, prediction |
OPEN Platform
OPEN
|
0.1774567 |
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)