Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.43162042 |
details, prediction |
ChainLink
LINK
|
0.31574196 |
details, prediction |
Bitcoin Cash
BCH
|
0.30069822 |
details, prediction |
KuCoin Shares
KCS
|
0.29352337 |
details, prediction |
Ethereum Classic
ETC
|
0.28320757 |
details, prediction |
|
Second tier
|
EOS
EOS
|
0.9602031 |
details, prediction |
USD//Coin
USDC
|
0.43123156 |
details, prediction |
FTX Token
FTT
|
0.4123887 |
details, prediction |
True USD
TUSD
|
0.39081326 |
details, prediction |
Ravencoin
RVN
|
0.3680188 |
details, prediction |
|
Third tier
|
Streamr DATAcoin
DATA
|
0.94300616 |
details, prediction |
OPEN Platform
OPEN
|
0.69832385 |
details, prediction |
Phantasma
SOUL
|
0.48234117 |
details, prediction |
Ontology
ONT
|
0.44950613 |
details, prediction |
Kyber Network
KNC
|
0.4413169 |
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
|
Binance Coin
BNB
|
0.032461774 |
details, prediction |
UNUS SED LEO
LEO
|
0.08722817 |
details, prediction |
XRP
XRP
|
0.09158923 |
details, prediction |
Dogecoin
DOGE
|
0.112232 |
details, prediction |
Cardano
ADA
|
0.1413184 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.67486095 |
details, prediction |
DigiByte
DGB
|
-0.12971757 |
details, prediction |
Zilliqa
ZIL
|
-0.050007448 |
details, prediction |
Verge
XVG
|
-0.024650231 |
details, prediction |
Ardor
ARDR
|
0.0236001 |
details, prediction |
|
Third tier
|
NEM
XEM
|
-0.38982898 |
details, prediction |
BABB
BAX
|
-0.35429415 |
details, prediction |
Dent
DENT
|
-0.30325195 |
details, prediction |
Matrix AI Network
MAN
|
-0.21187498 |
details, prediction |
Komodo
KMD
|
-0.15235838 |
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)