Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Crypto.com Chain
CRO
|
0.90623707 |
details, prediction |
Cardano
ADA
|
0.87828344 |
details, prediction |
Litecoin
LTC
|
0.8701944 |
details, prediction |
XRP
XRP
|
0.8617642 |
details, prediction |
Dogecoin
DOGE
|
0.8561968 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.8884704 |
details, prediction |
iEx.ec
RLC
|
0.88668597 |
details, prediction |
Synthetix Network Token
SNX
|
0.8768043 |
details, prediction |
Tezos
XTZ
|
0.8725997 |
details, prediction |
Bitcoin Gold
BTG
|
0.8711051 |
details, prediction |
|
Third tier
|
Elastos
ELA
|
0.926191 |
details, prediction |
Stox
STX
|
0.92119396 |
details, prediction |
SwftCoin
SWFTC
|
0.8891618 |
details, prediction |
Civic
CVC
|
0.88425237 |
details, prediction |
IoTeX
IOTX
|
0.8763584 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Kyber Network 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 Kyber Network
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.5226926 |
details, prediction |
ZCash
ZEC
|
0.057542823 |
details, prediction |
TRON
TRX
|
0.1841103 |
details, prediction |
Binance Coin
BNB
|
0.63089806 |
details, prediction |
Monero
XMR
|
0.7169795 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.62980723 |
details, prediction |
Dai
DAI
|
-0.5984713 |
details, prediction |
True USD
TUSD
|
-0.17430724 |
details, prediction |
Telcoin
TEL
|
-0.14314476 |
details, prediction |
OriginTrail
TRAC
|
-4.714824E-4 |
details, prediction |
|
Third tier
|
Komodo
KMD
|
-0.40823174 |
details, prediction |
FunFair
FUN
|
0.025019081 |
details, prediction |
V Systems
VSYS
|
0.13643602 |
details, prediction |
OPEN Platform
OPEN
|
0.16964765 |
details, prediction |
Matrix AI Network
MAN
|
0.21845113 |
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)