Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.9322869 |
details, prediction |
Litecoin
LTC
|
0.92223495 |
details, prediction |
XRP
XRP
|
0.9177011 |
details, prediction |
Bitcoin Cash
BCH
|
0.89915186 |
details, prediction |
KuCoin Shares
KCS
|
0.8821725 |
details, prediction |
|
Second tier
|
HoloToken
HOT
|
0.93290216 |
details, prediction |
Vechain
VET
|
0.92025816 |
details, prediction |
Status
SNT
|
0.91858655 |
details, prediction |
Waves
WAVES
|
0.9175134 |
details, prediction |
Ravencoin
RVN
|
0.9158659 |
details, prediction |
|
Third tier
|
Hydro Protocol
HOT
|
0.93714577 |
details, prediction |
QuarkChain
QKC
|
0.9267362 |
details, prediction |
ICON
ICX
|
0.92346543 |
details, prediction |
Lisk
LSK
|
0.920557 |
details, prediction |
ARK
ARK
|
0.9158283 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Nexo 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 Nexo
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
UNUS SED LEO
LEO
|
-0.8318249 |
details, prediction |
Stellar
XLM
|
-0.620252 |
details, prediction |
TRON
TRX
|
-0.2818408 |
details, prediction |
ZCash
ZEC
|
-0.24992898 |
details, prediction |
Binance Coin
BNB
|
0.27408856 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.7129319 |
details, prediction |
USD//Coin
USDC
|
-0.63874507 |
details, prediction |
OriginTrail
TRAC
|
-0.62711066 |
details, prediction |
Telcoin
TEL
|
-0.4036954 |
details, prediction |
True USD
TUSD
|
-0.21663472 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.6020155 |
details, prediction |
V Systems
VSYS
|
-0.19281344 |
details, prediction |
OPEN Platform
OPEN
|
-0.049522102 |
details, prediction |
Komodo
KMD
|
-0.0046831854 |
details, prediction |
HEROcoin
PLAY
|
0.1574642 |
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)