Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.77121735 |
details, prediction |
Dogecoin
DOGE
|
0.6527116 |
details, prediction |
ZCash
ZEC
|
0.5669503 |
details, prediction |
Cardano
ADA
|
0.51239765 |
details, prediction |
KuCoin Shares
KCS
|
0.47701934 |
details, prediction |
|
Second tier
|
iEx.ec
RLC
|
0.7323149 |
details, prediction |
QTUM
QTUM
|
0.7123412 |
details, prediction |
Basic Attention Token
BAT
|
0.71084005 |
details, prediction |
Ravencoin
RVN
|
0.6891944 |
details, prediction |
Vechain
VET
|
0.6598741 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.76822376 |
details, prediction |
Loopring
LRC
|
0.7111192 |
details, prediction |
Civic
CVC
|
0.70554173 |
details, prediction |
Internet of Services
IOST
|
0.64561766 |
details, prediction |
Power Ledger
POWR
|
0.6279417 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that FTX Token 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 FTX Token
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.2777622 |
details, prediction |
Ethereum
ETH
|
-0.16939315 |
details, prediction |
Crypto.com Chain
CRO
|
-0.04073293 |
details, prediction |
TRON
TRX
|
0.023694517 |
details, prediction |
Bitcoin
BTC
|
0.19199906 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
-0.4755946 |
details, prediction |
Decred
DCR
|
-0.460122 |
details, prediction |
DigiByte
DGB
|
-0.1901721 |
details, prediction |
Dai
DAI
|
-0.1743839 |
details, prediction |
Synthetix Network Token
SNX
|
-0.063843854 |
details, prediction |
|
Third tier
|
BABB
BAX
|
-0.4125757 |
details, prediction |
Steem
STEEM
|
-0.34214738 |
details, prediction |
Ontology
ONT
|
-0.22290505 |
details, prediction |
Constellation
DAG
|
-0.20402925 |
details, prediction |
Dent
DENT
|
-0.1596065 |
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)