Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.5262036 |
details, prediction |
Stellar
XLM
|
0.22067048 |
details, prediction |
Bitcoin Cash
BCH
|
0.056323815 |
details, prediction |
KuCoin Shares
KCS
|
-0.080310084 |
details, prediction |
ZCash
ZEC
|
-0.20571588 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
0.7551171 |
details, prediction |
True USD
TUSD
|
0.6217707 |
details, prediction |
Dai
DAI
|
0.611708 |
details, prediction |
FTX Token
FTT
|
0.008810944 |
details, prediction |
Ravencoin
RVN
|
-0.016992008 |
details, prediction |
|
Third tier
|
Phantasma
SOUL
|
0.6042201 |
details, prediction |
Ontology
ONT
|
0.39960134 |
details, prediction |
Kyber Network
KNC
|
0.21480809 |
details, prediction |
V Systems
VSYS
|
0.16043866 |
details, prediction |
Dero
DERO
|
0.117424555 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that NKN 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 NKN
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
XRP
XRP
|
-0.50365674 |
details, prediction |
Cardano
ADA
|
-0.4655234 |
details, prediction |
Monero
XMR
|
-0.43260244 |
details, prediction |
Crypto.com Chain
CRO
|
-0.41646641 |
details, prediction |
Bitcoin
BTC
|
-0.39154455 |
details, prediction |
|
Second tier
|
Tezos
XTZ
|
-0.58698726 |
details, prediction |
DigiByte
DGB
|
-0.58151054 |
details, prediction |
Synthetix Network Token
SNX
|
-0.5599945 |
details, prediction |
Decentraland
MANA
|
-0.53871787 |
details, prediction |
Cosmos
ATOM
|
-0.53780836 |
details, prediction |
|
Third tier
|
NEM
XEM
|
-0.6653495 |
details, prediction |
Loopring
LRC
|
-0.64835817 |
details, prediction |
QuarkChain
QKC
|
-0.6128566 |
details, prediction |
ARK
ARK
|
-0.60384333 |
details, prediction |
Komodo
KMD
|
-0.543751 |
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)