Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9674673 |
details, prediction |
Bitcoin
BTC
|
0.94590205 |
details, prediction |
Litecoin
LTC
|
0.93980247 |
details, prediction |
ZCash
ZEC
|
0.93722045 |
details, prediction |
Stellar
XLM
|
0.9040252 |
details, prediction |
|
Second tier
|
IOTA
IOT
|
0.8169895 |
details, prediction |
XYO Network
XYO
|
0.8034788 |
details, prediction |
DASH
DASH
|
0.7945612 |
details, prediction |
Basic Attention Token
BAT
|
0.7937704 |
details, prediction |
Nexo
NEXO
|
0.76990145 |
details, prediction |
|
Third tier
|
Matrix AI Network
MAN
|
0.90287834 |
details, prediction |
Phantasma
SOUL
|
0.8015343 |
details, prediction |
Bancor
BNT
|
0.7917311 |
details, prediction |
Kyber Network
KNC
|
0.75602144 |
details, prediction |
Lisk
LSK
|
0.73763674 |
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
|
TRON
TRX
|
-0.28593558 |
details, prediction |
Binance Coin
BNB
|
0.26575288 |
details, prediction |
Dogecoin
DOGE
|
0.44495317 |
details, prediction |
ChainLink
LINK
|
0.5113854 |
details, prediction |
Crypto.com Chain
CRO
|
0.5191065 |
details, prediction |
|
Second tier
|
True USD
TUSD
|
-0.5395121 |
details, prediction |
Dai
DAI
|
-0.50060296 |
details, prediction |
Decred
DCR
|
-0.16221641 |
details, prediction |
Zilliqa
ZIL
|
-0.14790733 |
details, prediction |
Ardor
ARDR
|
-0.101010546 |
details, prediction |
|
Third tier
|
Constellation
DAG
|
-0.75676215 |
details, prediction |
BOScoin
BOS
|
-0.49260458 |
details, prediction |
HEROcoin
PLAY
|
-0.3979456 |
details, prediction |
Dero
DERO
|
-0.26226723 |
details, prediction |
Gas
GAS
|
0.10540503 |
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)