Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.7045302 |
details, prediction |
Dogecoin
DOGE
|
0.650878 |
details, prediction |
Ethereum Classic
ETC
|
0.4863984 |
details, prediction |
KuCoin Shares
KCS
|
0.31079596 |
details, prediction |
XRP
XRP
|
0.1768914 |
details, prediction |
|
Second tier
|
Chiliz
CHZ
|
0.86898136 |
details, prediction |
Cosmos
ATOM
|
0.8548818 |
details, prediction |
IOTA
IOT
|
0.82983404 |
details, prediction |
Telcoin
TEL
|
0.79666865 |
details, prediction |
Basic Attention Token
BAT
|
0.79090786 |
details, prediction |
|
Third tier
|
Kambria
KAT
|
0.8165117 |
details, prediction |
SwftCoin
SWFTC
|
0.8159556 |
details, prediction |
Elastos
ELA
|
0.80594796 |
details, prediction |
Civic
CVC
|
0.7931419 |
details, prediction |
ARK
ARK
|
0.7569298 |
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
|
Ethereum
ETH
|
-0.3290107 |
details, prediction |
Monero
XMR
|
-0.31752497 |
details, prediction |
TRON
TRX
|
-0.3094001 |
details, prediction |
Litecoin
LTC
|
-0.2565842 |
details, prediction |
Cardano
ADA
|
-0.24226253 |
details, prediction |
|
Second tier
|
DigiByte
DGB
|
-0.6110951 |
details, prediction |
Decred
DCR
|
-0.554329 |
details, prediction |
Bitcoin SV
BSV
|
-0.38608974 |
details, prediction |
HoloToken
HOT
|
-0.34969154 |
details, prediction |
Vechain
VET
|
0.012662541 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.77945065 |
details, prediction |
NKN
NKN
|
-0.6377679 |
details, prediction |
SysCoin
SYS
|
-0.556481 |
details, prediction |
Hydro Protocol
HOT
|
-0.41471466 |
details, prediction |
Propy
PRO
|
-0.39184138 |
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)