Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.7473375 |
details, prediction |
ChainLink
LINK
|
0.4421596 |
details, prediction |
Bitcoin
BTC
|
0.41135633 |
details, prediction |
Litecoin
LTC
|
0.39936337 |
details, prediction |
Stellar
XLM
|
0.38171038 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
0.7080175 |
details, prediction |
iEx.ec
RLC
|
0.6887482 |
details, prediction |
Status
SNT
|
0.65594697 |
details, prediction |
Basic Attention Token
BAT
|
0.60619706 |
details, prediction |
Bitcoin SV
BSV
|
0.5950772 |
details, prediction |
|
Third tier
|
LAToken
LA
|
0.9298164 |
details, prediction |
Metal
MTL
|
0.56677556 |
details, prediction |
Gas
GAS
|
0.56629 |
details, prediction |
AdEx
ADX
|
0.5650435 |
details, prediction |
OPEN Platform
OPEN
|
0.5405184 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that KuCoin Shares 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 KuCoin Shares
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Cardano
ADA
|
-0.2902329 |
details, prediction |
Crypto.com Chain
CRO
|
-0.15073466 |
details, prediction |
Ethereum Classic
ETC
|
-0.15024742 |
details, prediction |
ZCash
ZEC
|
0.019291427 |
details, prediction |
Binance Coin
BNB
|
0.14171317 |
details, prediction |
|
Second tier
|
Telcoin
TEL
|
-0.51114696 |
details, prediction |
Dai
DAI
|
-0.41813836 |
details, prediction |
Bitcoin Gold
BTG
|
-0.40904033 |
details, prediction |
Verge
XVG
|
-0.32773653 |
details, prediction |
OriginTrail
TRAC
|
-0.286786 |
details, prediction |
|
Third tier
|
Dero
DERO
|
-0.6674386 |
details, prediction |
Constellation
DAG
|
-0.5894268 |
details, prediction |
FunFair
FUN
|
-0.5362213 |
details, prediction |
BABB
BAX
|
-0.51439744 |
details, prediction |
Wanchain
WAN
|
-0.4795473 |
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)