Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin Cash
BCH
|
0.76284456 |
details, prediction |
Cardano
ADA
|
0.7564614 |
details, prediction |
Crypto.com Chain
CRO
|
0.7116739 |
details, prediction |
XRP
XRP
|
0.5056046 |
details, prediction |
Ethereum Classic
ETC
|
0.3560775 |
details, prediction |
|
Second tier
|
Zilliqa
ZIL
|
0.9233327 |
details, prediction |
Vechain
VET
|
0.90757895 |
details, prediction |
Decentraland
MANA
|
0.9025078 |
details, prediction |
Basic Attention Token
BAT
|
0.87508875 |
details, prediction |
Theta Fuel
TFUEL
|
0.853174 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.944452 |
details, prediction |
QuarkChain
QKC
|
0.8963385 |
details, prediction |
Internet of Services
IOST
|
0.88762337 |
details, prediction |
Lisk
LSK
|
0.86417425 |
details, prediction |
Civic
CVC
|
0.8616742 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ARK 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 ARK
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
-0.97248703 |
details, prediction |
TRON
TRX
|
-0.67464674 |
details, prediction |
Ethereum
ETH
|
-0.14308588 |
details, prediction |
ZCash
ZEC
|
-0.10330829 |
details, prediction |
Bitcoin
BTC
|
-0.07050309 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.35121194 |
details, prediction |
Dai
DAI
|
-0.3081142 |
details, prediction |
True USD
TUSD
|
-0.2102844 |
details, prediction |
Telcoin
TEL
|
-0.14820659 |
details, prediction |
Algorand
ALGO
|
-0.10469097 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.58802134 |
details, prediction |
Ontology
ONT
|
-0.50504416 |
details, prediction |
NKN
NKN
|
-0.44730783 |
details, prediction |
Constellation
DAG
|
-0.41612282 |
details, prediction |
Phantasma
SOUL
|
-0.29478583 |
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)