Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.96558785 |
details, prediction |
XRP
XRP
|
0.93789923 |
details, prediction |
Dogecoin
DOGE
|
0.9349615 |
details, prediction |
Bitcoin
BTC
|
0.93494415 |
details, prediction |
Cardano
ADA
|
0.9335339 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.95022863 |
details, prediction |
NEO
NEO
|
0.94991505 |
details, prediction |
iEx.ec
RLC
|
0.9439229 |
details, prediction |
Horizen
ZEN
|
0.9433546 |
details, prediction |
0x
ZRX
|
0.9350429 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.9580287 |
details, prediction |
Storj
STORJ
|
0.92976904 |
details, prediction |
Civic
CVC
|
0.92809075 |
details, prediction |
Internet of Services
IOST
|
0.9241778 |
details, prediction |
QuarkChain
QKC
|
0.91539156 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Synthetix Network Token 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 Synthetix Network Token
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.4651763 |
details, prediction |
ZCash
ZEC
|
0.021254877 |
details, prediction |
TRON
TRX
|
0.32518673 |
details, prediction |
Binance Coin
BNB
|
0.7169124 |
details, prediction |
Monero
XMR
|
0.7692363 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.63757074 |
details, prediction |
Dai
DAI
|
-0.53865874 |
details, prediction |
True USD
TUSD
|
-0.46487087 |
details, prediction |
Telcoin
TEL
|
-0.033924475 |
details, prediction |
OriginTrail
TRAC
|
0.13714407 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.46291864 |
details, prediction |
Komodo
KMD
|
-0.30272073 |
details, prediction |
V Systems
VSYS
|
-0.13648327 |
details, prediction |
Matrix AI Network
MAN
|
0.12921701 |
details, prediction |
Propy
PRO
|
0.13817284 |
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)