Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.79446447 |
details, prediction |
Bitcoin Cash
BCH
|
0.7529477 |
details, prediction |
Dogecoin
DOGE
|
0.74285054 |
details, prediction |
Ethereum Classic
ETC
|
0.7194954 |
details, prediction |
XRP
XRP
|
0.6808989 |
details, prediction |
|
Second tier
|
iEx.ec
RLC
|
0.8090995 |
details, prediction |
FTX Token
FTT
|
0.7818674 |
details, prediction |
IOTA
IOT
|
0.7619796 |
details, prediction |
Nexo
NEXO
|
0.72172976 |
details, prediction |
Crypto.com Chain
CRO
|
0.7026102 |
details, prediction |
|
Third tier
|
Achain
ACT
|
0.733886 |
details, prediction |
PIVX
PIVX
|
0.70210356 |
details, prediction |
Ontology
ONT
|
0.6878005 |
details, prediction |
Gas
GAS
|
0.68559384 |
details, prediction |
Bancor
BNT
|
0.6691593 |
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
|
0.28589463 |
details, prediction |
ZCash
ZEC
|
0.40041047 |
details, prediction |
TRON
TRX
|
0.46637997 |
details, prediction |
Binance Coin
BNB
|
0.4724223 |
details, prediction |
Ethereum
ETH
|
0.48063377 |
details, prediction |
|
Second tier
|
Ravencoin
RVN
|
-0.05626165 |
details, prediction |
DigiByte
DGB
|
0.005536222 |
details, prediction |
USD//Coin
USDC
|
0.10522497 |
details, prediction |
True USD
TUSD
|
0.15372142 |
details, prediction |
Decred
DCR
|
0.2339383 |
details, prediction |
|
Third tier
|
NKN
NKN
|
-0.59069157 |
details, prediction |
OPEN Platform
OPEN
|
-0.43888804 |
details, prediction |
Matrix AI Network
MAN
|
-0.21700029 |
details, prediction |
ICON
ICX
|
-0.17070797 |
details, prediction |
HEROcoin
PLAY
|
-0.09360381 |
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)