Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Dogecoin
DOGE
|
0.9490506 |
details, prediction |
Ethereum Classic
ETC
|
0.92722553 |
details, prediction |
XRP
XRP
|
0.90897834 |
details, prediction |
Bitcoin Cash
BCH
|
0.830589 |
details, prediction |
Cardano
ADA
|
0.8236302 |
details, prediction |
|
Second tier
|
Chiliz
CHZ
|
0.94725823 |
details, prediction |
Verge
XVG
|
0.9364597 |
details, prediction |
Siacoin
SC
|
0.93492943 |
details, prediction |
NEO
NEO
|
0.93191355 |
details, prediction |
IOTA
IOT
|
0.9300387 |
details, prediction |
|
Third tier
|
SwftCoin
SWFTC
|
0.94935924 |
details, prediction |
Internet of Services
IOST
|
0.9462919 |
details, prediction |
IoTeX
IOTX
|
0.9441241 |
details, prediction |
Steem
STEEM
|
0.9379167 |
details, prediction |
ICON
ICX
|
0.9373708 |
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
|
-0.32967597 |
details, prediction |
TRON
TRX
|
0.23222253 |
details, prediction |
ZCash
ZEC
|
0.29925144 |
details, prediction |
Ethereum
ETH
|
0.6170416 |
details, prediction |
Monero
XMR
|
0.6194838 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.7416371 |
details, prediction |
USD//Coin
USDC
|
-0.73985285 |
details, prediction |
True USD
TUSD
|
-0.32043695 |
details, prediction |
DigiByte
DGB
|
0.057178725 |
details, prediction |
Bitcoin SV
BSV
|
0.61564356 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.36539158 |
details, prediction |
Phantasma
SOUL
|
-0.24791442 |
details, prediction |
NKN
NKN
|
-0.15623079 |
details, prediction |
V Systems
VSYS
|
-0.13307665 |
details, prediction |
Matrix AI Network
MAN
|
-0.013615462 |
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)