Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ZCash
ZEC
|
0.9782365 |
details, prediction |
Binance Coin
BNB
|
0.9436687 |
details, prediction |
Monero
XMR
|
0.9067982 |
details, prediction |
Bitcoin
BTC
|
0.89325196 |
details, prediction |
ChainLink
LINK
|
0.88788074 |
details, prediction |
|
Second tier
|
DASH
DASH
|
0.97703576 |
details, prediction |
Verge
XVG
|
0.95796585 |
details, prediction |
Vechain
VET
|
0.955089 |
details, prediction |
QTUM
QTUM
|
0.9334471 |
details, prediction |
0x
ZRX
|
0.93200904 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.9250443 |
details, prediction |
QuarkChain
QKC
|
0.89799464 |
details, prediction |
Kyber Network
KNC
|
0.8808262 |
details, prediction |
Gas
GAS
|
0.86599857 |
details, prediction |
Steem
STEEM
|
0.846253 |
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
|
TRON
TRX
|
0.100452214 |
details, prediction |
KuCoin Shares
KCS
|
0.4277168 |
details, prediction |
Stellar
XLM
|
0.50823784 |
details, prediction |
Bitcoin Cash
BCH
|
0.7141793 |
details, prediction |
Cardano
ADA
|
0.82892203 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.7761301 |
details, prediction |
USD//Coin
USDC
|
-0.6690259 |
details, prediction |
True USD
TUSD
|
-0.638988 |
details, prediction |
aelf
ELF
|
-0.37263587 |
details, prediction |
Telcoin
TEL
|
-0.19540745 |
details, prediction |
|
Third tier
|
ICON
ICX
|
-0.8054809 |
details, prediction |
Matrix AI Network
MAN
|
-0.7820181 |
details, prediction |
OPEN Platform
OPEN
|
-0.7418241 |
details, prediction |
Storj
STORJ
|
-0.684967 |
details, prediction |
NKN
NKN
|
-0.6497345 |
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)