Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
KuCoin Shares
KCS
|
0.8886896 |
details, prediction |
Ethereum Classic
ETC
|
0.77240413 |
details, prediction |
Bitcoin Cash
BCH
|
0.7630715 |
details, prediction |
Cardano
ADA
|
0.73018515 |
details, prediction |
Crypto.com Chain
CRO
|
0.7186454 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.93718696 |
details, prediction |
Basic Attention Token
BAT
|
0.91711855 |
details, prediction |
Status
SNT
|
0.9156678 |
details, prediction |
Vechain
VET
|
0.9152921 |
details, prediction |
iEx.ec
RLC
|
0.89730304 |
details, prediction |
|
Third tier
|
Loopring
LRC
|
0.966981 |
details, prediction |
Power Ledger
POWR
|
0.93251705 |
details, prediction |
Lisk
LSK
|
0.8880684 |
details, prediction |
Internet of Services
IOST
|
0.8864742 |
details, prediction |
Civic
CVC
|
0.88297594 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that ICON 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 ICON
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
-0.55616814 |
details, prediction |
UNUS SED LEO
LEO
|
-0.28669906 |
details, prediction |
ZCash
ZEC
|
0.19348942 |
details, prediction |
Stellar
XLM
|
0.22801174 |
details, prediction |
Ethereum
ETH
|
0.27944335 |
details, prediction |
|
Second tier
|
Nexo
NEXO
|
-0.33637545 |
details, prediction |
Decred
DCR
|
-0.32958582 |
details, prediction |
HoloToken
HOT
|
0.05277726 |
details, prediction |
Bitcoin SV
BSV
|
0.13708389 |
details, prediction |
Algorand
ALGO
|
0.14023994 |
details, prediction |
|
Third tier
|
V Systems
VSYS
|
-0.40428463 |
details, prediction |
Propy
PRO
|
-0.39735422 |
details, prediction |
Ontology
ONT
|
-0.37879056 |
details, prediction |
Steem
STEEM
|
-0.30156565 |
details, prediction |
Dent
DENT
|
-0.20531672 |
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)