Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
0.9835622 |
details, prediction |
ChainLink
LINK
|
0.8172607 |
details, prediction |
Ethereum Classic
ETC
|
0.80048037 |
details, prediction |
Dogecoin
DOGE
|
0.79768425 |
details, prediction |
Bitcoin
BTC
|
0.72313875 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.7014639 |
details, prediction |
Horizen
ZEN
|
0.6925758 |
details, prediction |
0x
ZRX
|
0.68361443 |
details, prediction |
QTUM
QTUM
|
0.6636762 |
details, prediction |
iEx.ec
RLC
|
0.6514245 |
details, prediction |
|
Third tier
|
Storj
STORJ
|
0.8004559 |
details, prediction |
Bancor
BNT
|
0.7362592 |
details, prediction |
Metal
MTL
|
0.6872416 |
details, prediction |
Civic
CVC
|
0.6354697 |
details, prediction |
ICON
ICX
|
0.6332461 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that FTX 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 FTX Token
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.51558 |
details, prediction |
TRON
TRX
|
0.34284058 |
details, prediction |
ZCash
ZEC
|
0.38882375 |
details, prediction |
Binance Coin
BNB
|
0.43892035 |
details, prediction |
Bitcoin Cash
BCH
|
0.45968613 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.46343452 |
details, prediction |
USD//Coin
USDC
|
-0.34125718 |
details, prediction |
OriginTrail
TRAC
|
-0.089879975 |
details, prediction |
DigiByte
DGB
|
0.0779378 |
details, prediction |
True USD
TUSD
|
0.08100593 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
-0.78813297 |
details, prediction |
Komodo
KMD
|
-0.5410851 |
details, prediction |
Chronobank
TIME
|
-0.36830893 |
details, prediction |
FunFair
FUN
|
-0.25057077 |
details, prediction |
OPEN Platform
OPEN
|
-0.10321309 |
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)