Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9062992 |
details, prediction |
ChainLink
LINK
|
0.8948133 |
details, prediction |
ZCash
ZEC
|
0.8867234 |
details, prediction |
Cardano
ADA
|
0.88603014 |
details, prediction |
Crypto.com Chain
CRO
|
0.87192565 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.9795272 |
details, prediction |
QTUM
QTUM
|
0.9787756 |
details, prediction |
Horizen
ZEN
|
0.978119 |
details, prediction |
Theta Fuel
TFUEL
|
0.9763862 |
details, prediction |
iEx.ec
RLC
|
0.9680893 |
details, prediction |
|
Third tier
|
PIVX
PIVX
|
0.98714167 |
details, prediction |
Power Ledger
POWR
|
0.97780895 |
details, prediction |
Civic
CVC
|
0.9774108 |
details, prediction |
ICON
ICX
|
0.9769219 |
details, prediction |
IoTeX
IOTX
|
0.9746607 |
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
|
TRON
TRX
|
-0.4607047 |
details, prediction |
UNUS SED LEO
LEO
|
0.27180445 |
details, prediction |
Binance Coin
BNB
|
0.38341385 |
details, prediction |
Dogecoin
DOGE
|
0.52869654 |
details, prediction |
XRP
XRP
|
0.66613126 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.46929237 |
details, prediction |
Decred
DCR
|
-0.22719081 |
details, prediction |
True USD
TUSD
|
0.11885046 |
details, prediction |
Verge
XVG
|
0.26832423 |
details, prediction |
Zilliqa
ZIL
|
0.2859489 |
details, prediction |
|
Third tier
|
HEROcoin
PLAY
|
-0.27411142 |
details, prediction |
BABB
BAX
|
-0.15450306 |
details, prediction |
Constellation
DAG
|
-0.087237224 |
details, prediction |
Dero
DERO
|
-0.009558593 |
details, prediction |
Dent
DENT
|
0.30994788 |
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)