Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.79370916 |
details, prediction |
Stellar
XLM
|
0.79059285 |
details, prediction |
KuCoin Shares
KCS
|
0.7818674 |
details, prediction |
Dogecoin
DOGE
|
0.6986945 |
details, prediction |
Bitcoin Cash
BCH
|
0.6830038 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.8150136 |
details, prediction |
Cosmos
ATOM
|
0.80487186 |
details, prediction |
iEx.ec
RLC
|
0.79446244 |
details, prediction |
IOTA
IOT
|
0.7695499 |
details, prediction |
Tezos
XTZ
|
0.7485483 |
details, prediction |
|
Third tier
|
Elastos
ELA
|
0.7668206 |
details, prediction |
SwftCoin
SWFTC
|
0.7151604 |
details, prediction |
IoTeX
IOTX
|
0.71283495 |
details, prediction |
Gas
GAS
|
0.70197725 |
details, prediction |
PIVX
PIVX
|
0.6915925 |
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
|
TRON
TRX
|
0.28157088 |
details, prediction |
Monero
XMR
|
0.3102883 |
details, prediction |
Ethereum
ETH
|
0.37270984 |
details, prediction |
Cardano
ADA
|
0.43511388 |
details, prediction |
Binance Coin
BNB
|
0.45006278 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
-0.20515065 |
details, prediction |
DigiByte
DGB
|
-0.15997526 |
details, prediction |
Ravencoin
RVN
|
-0.15345387 |
details, prediction |
USD//Coin
USDC
|
0.0230176 |
details, prediction |
True USD
TUSD
|
0.06862305 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.47393873 |
details, prediction |
NKN
NKN
|
-0.37237182 |
details, prediction |
HEROcoin
PLAY
|
-0.30600333 |
details, prediction |
Propy
PRO
|
-0.19396217 |
details, prediction |
Constellation
DAG
|
-0.17811334 |
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)