Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.94551384 |
details, prediction |
ChainLink
LINK
|
0.92374563 |
details, prediction |
Ethereum Classic
ETC
|
0.90845346 |
details, prediction |
Dogecoin
DOGE
|
0.90125257 |
details, prediction |
Ethereum
ETH
|
0.88508517 |
details, prediction |
|
Second tier
|
Synthetix Network Token
SNX
|
0.9433546 |
details, prediction |
Zilliqa
ZIL
|
0.9406509 |
details, prediction |
iEx.ec
RLC
|
0.9197365 |
details, prediction |
0x
ZRX
|
0.91569287 |
details, prediction |
Decentraland
MANA
|
0.89999723 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.93397635 |
details, prediction |
LAToken
LA
|
0.8965034 |
details, prediction |
ICON
ICX
|
0.89575213 |
details, prediction |
Storj
STORJ
|
0.89245445 |
details, prediction |
ARK
ARK
|
0.88928956 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Horizen 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 Horizen
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.5655658 |
details, prediction |
TRON
TRX
|
0.21550418 |
details, prediction |
ZCash
ZEC
|
0.2528385 |
details, prediction |
Binance Coin
BNB
|
0.6399359 |
details, prediction |
Bitcoin Cash
BCH
|
0.7973479 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.83657676 |
details, prediction |
Dai
DAI
|
-0.7827668 |
details, prediction |
True USD
TUSD
|
-0.3947185 |
details, prediction |
Telcoin
TEL
|
-0.0612739 |
details, prediction |
OriginTrail
TRAC
|
0.020701816 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.87423265 |
details, prediction |
Komodo
KMD
|
-0.56546205 |
details, prediction |
Matrix AI Network
MAN
|
0.12152125 |
details, prediction |
V Systems
VSYS
|
0.17290059 |
details, prediction |
NKN
NKN
|
0.21325591 |
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)