Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9558397 |
details, prediction |
Litecoin
LTC
|
0.9148097 |
details, prediction |
KuCoin Shares
KCS
|
0.90300405 |
details, prediction |
Bitcoin Cash
BCH
|
0.8776947 |
details, prediction |
XRP
XRP
|
0.87628925 |
details, prediction |
|
Second tier
|
Vechain
VET
|
0.9422075 |
details, prediction |
Status
SNT
|
0.93683726 |
details, prediction |
Decentraland
MANA
|
0.9302532 |
details, prediction |
Zilliqa
ZIL
|
0.9289005 |
details, prediction |
Ravencoin
RVN
|
0.92813 |
details, prediction |
|
Third tier
|
LAToken
LA
|
0.93625516 |
details, prediction |
Lisk
LSK
|
0.93071127 |
details, prediction |
Power Ledger
POWR
|
0.92940474 |
details, prediction |
QuarkChain
QKC
|
0.9291173 |
details, prediction |
Gas
GAS
|
0.92338985 |
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
|
Stellar
XLM
|
-0.71424884 |
details, prediction |
UNUS SED LEO
LEO
|
-0.24557823 |
details, prediction |
ZCash
ZEC
|
-0.11549944 |
details, prediction |
TRON
TRX
|
-0.10262814 |
details, prediction |
Binance Coin
BNB
|
0.24303685 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.71778965 |
details, prediction |
USD//Coin
USDC
|
-0.63056207 |
details, prediction |
OriginTrail
TRAC
|
-0.53428584 |
details, prediction |
Telcoin
TEL
|
-0.31545314 |
details, prediction |
True USD
TUSD
|
-0.20678347 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.68288714 |
details, prediction |
Komodo
KMD
|
-0.20401533 |
details, prediction |
V Systems
VSYS
|
-0.0847399 |
details, prediction |
OPEN Platform
OPEN
|
-0.059859883 |
details, prediction |
Chronobank
TIME
|
0.20129037 |
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)