Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.77528447 |
details, prediction |
ZCash
ZEC
|
0.70959526 |
details, prediction |
Monero
XMR
|
0.6464137 |
details, prediction |
Ethereum Classic
ETC
|
0.6415507 |
details, prediction |
KuCoin Shares
KCS
|
0.62523305 |
details, prediction |
|
Second tier
|
DASH
DASH
|
0.8196037 |
details, prediction |
iEx.ec
RLC
|
0.78622824 |
details, prediction |
Theta
THETA
|
0.7635147 |
details, prediction |
Cosmos
ATOM
|
0.7199044 |
details, prediction |
0x
ZRX
|
0.7090539 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.80834645 |
details, prediction |
Bancor
BNT
|
0.7746784 |
details, prediction |
Storj
STORJ
|
0.77031153 |
details, prediction |
QuarkChain
QKC
|
0.7498906 |
details, prediction |
Lisk
LSK
|
0.73658913 |
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
|
-0.2658784 |
details, prediction |
TRON
TRX
|
-0.038614977 |
details, prediction |
Bitcoin Cash
BCH
|
0.20575461 |
details, prediction |
Ethereum
ETH
|
0.268212 |
details, prediction |
Crypto.com Chain
CRO
|
0.33870545 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.6397314 |
details, prediction |
USD//Coin
USDC
|
-0.5453729 |
details, prediction |
Decred
DCR
|
-0.23050417 |
details, prediction |
Verge
XVG
|
-0.17833516 |
details, prediction |
True USD
TUSD
|
-0.03637602 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.38339424 |
details, prediction |
Phantasma
SOUL
|
-0.35410172 |
details, prediction |
Ontology
ONT
|
-0.34042677 |
details, prediction |
BABB
BAX
|
-0.32874414 |
details, prediction |
FunFair
FUN
|
-0.3285607 |
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)