Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.89595604 |
details, prediction |
XRP
XRP
|
0.8721448 |
details, prediction |
Bitcoin Cash
BCH
|
0.8236273 |
details, prediction |
Bitcoin
BTC
|
0.81930053 |
details, prediction |
Dogecoin
DOGE
|
0.7983245 |
details, prediction |
|
Second tier
|
QTUM
QTUM
|
0.8944457 |
details, prediction |
Waves
WAVES
|
0.8910094 |
details, prediction |
Decentraland
MANA
|
0.8839878 |
details, prediction |
0x
ZRX
|
0.8712272 |
details, prediction |
DASH
DASH
|
0.8696 |
details, prediction |
|
Third tier
|
Wanchain
WAN
|
0.8778155 |
details, prediction |
Enjin Coin
ENJ
|
0.8760091 |
details, prediction |
Gas
GAS
|
0.86934227 |
details, prediction |
Kyber Network
KNC
|
0.8474595 |
details, prediction |
ICON
ICX
|
0.8470671 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that KuCoin Shares 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 KuCoin Shares
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.09932901 |
details, prediction |
Monero
XMR
|
0.2892439 |
details, prediction |
Ethereum
ETH
|
0.5277219 |
details, prediction |
ChainLink
LINK
|
0.6118589 |
details, prediction |
ZCash
ZEC
|
0.6127563 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5180294 |
details, prediction |
USD//Coin
USDC
|
-0.23836924 |
details, prediction |
True USD
TUSD
|
-0.16604987 |
details, prediction |
DigiByte
DGB
|
-0.11922514 |
details, prediction |
Bitcoin SV
BSV
|
0.42745557 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.16365916 |
details, prediction |
NKN
NKN
|
-0.07332743 |
details, prediction |
Propy
PRO
|
-0.0506894 |
details, prediction |
OPEN Platform
OPEN
|
0.11035557 |
details, prediction |
Phantasma
SOUL
|
0.17261444 |
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)