Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
0.9343494 |
details, prediction |
Bitcoin Cash
BCH
|
0.930232 |
details, prediction |
Ethereum Classic
ETC
|
0.9240195 |
details, prediction |
KuCoin Shares
KCS
|
0.91917783 |
details, prediction |
ZCash
ZEC
|
0.9079403 |
details, prediction |
|
Second tier
|
Status
SNT
|
0.98933095 |
details, prediction |
QTUM
QTUM
|
0.9887896 |
details, prediction |
iEx.ec
RLC
|
0.98490447 |
details, prediction |
Basic Attention Token
BAT
|
0.9830925 |
details, prediction |
Decentraland
MANA
|
0.9825419 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.98936427 |
details, prediction |
Internet of Services
IOST
|
0.9845997 |
details, prediction |
IoTeX
IOTX
|
0.9837914 |
details, prediction |
PIVX
PIVX
|
0.9832753 |
details, prediction |
Power Ledger
POWR
|
0.9826179 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ICON 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 ICON
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.68469894 |
details, prediction |
UNUS SED LEO
LEO
|
0.138563 |
details, prediction |
Binance Coin
BNB
|
0.5880866 |
details, prediction |
Stellar
XLM
|
0.7424769 |
details, prediction |
Dogecoin
DOGE
|
0.7435765 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.39579064 |
details, prediction |
Decred
DCR
|
-0.38649836 |
details, prediction |
True USD
TUSD
|
0.15509632 |
details, prediction |
Nexo
NEXO
|
0.41553333 |
details, prediction |
Verge
XVG
|
0.4544632 |
details, prediction |
|
Third tier
|
Dent
DENT
|
-0.24514581 |
details, prediction |
Ontology
ONT
|
-0.16866207 |
details, prediction |
Propy
PRO
|
0.115710616 |
details, prediction |
HEROcoin
PLAY
|
0.21567237 |
details, prediction |
NKN
NKN
|
0.24275522 |
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)