Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.8778306 |
details, prediction |
Bitcoin Cash
BCH
|
0.81758213 |
details, prediction |
Dogecoin
DOGE
|
0.79524434 |
details, prediction |
XRP
XRP
|
0.75890833 |
details, prediction |
Litecoin
LTC
|
0.75762075 |
details, prediction |
|
Second tier
|
Decentraland
MANA
|
0.87320876 |
details, prediction |
QTUM
QTUM
|
0.85879904 |
details, prediction |
Horizen
ZEN
|
0.85560143 |
details, prediction |
DASH
DASH
|
0.8492814 |
details, prediction |
0x
ZRX
|
0.8446944 |
details, prediction |
|
Third tier
|
Gas
GAS
|
0.8507084 |
details, prediction |
Wanchain
WAN
|
0.8494306 |
details, prediction |
SysCoin
SYS
|
0.83894664 |
details, prediction |
Achain
ACT
|
0.81184036 |
details, prediction |
Bancor
BNT
|
0.8115462 |
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
|
Monero
XMR
|
0.20746948 |
details, prediction |
Stellar
XLM
|
0.24128766 |
details, prediction |
ChainLink
LINK
|
0.407178 |
details, prediction |
Ethereum
ETH
|
0.43768632 |
details, prediction |
ZCash
ZEC
|
0.497338 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.5282927 |
details, prediction |
USD//Coin
USDC
|
-0.19455746 |
details, prediction |
True USD
TUSD
|
-0.14244145 |
details, prediction |
DigiByte
DGB
|
-0.06334029 |
details, prediction |
Bitcoin SV
BSV
|
0.35757864 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.199307 |
details, prediction |
V Systems
VSYS
|
-0.15867437 |
details, prediction |
Matrix AI Network
MAN
|
-0.021319102 |
details, prediction |
OPEN Platform
OPEN
|
0.0042076893 |
details, prediction |
Propy
PRO
|
0.006028812 |
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)