Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
0.42075005 |
details, prediction |
Bitcoin Cash
BCH
|
0.3483244 |
details, prediction |
ChainLink
LINK
|
0.34583592 |
details, prediction |
Ethereum Classic
ETC
|
0.32718593 |
details, prediction |
KuCoin Shares
KCS
|
0.320857 |
details, prediction |
|
Second tier
|
EOS
EOS
|
0.9602031 |
details, prediction |
USD//Coin
USDC
|
0.4549412 |
details, prediction |
FTX Token
FTT
|
0.4410103 |
details, prediction |
True USD
TUSD
|
0.38870695 |
details, prediction |
Ravencoin
RVN
|
0.38237923 |
details, prediction |
|
Third tier
|
Streamr DATAcoin
DATA
|
0.94300616 |
details, prediction |
Phantasma
SOUL
|
0.5186244 |
details, prediction |
Kyber Network
KNC
|
0.4632783 |
details, prediction |
V Systems
VSYS
|
0.46087196 |
details, prediction |
Electroneum
ETN
|
0.39354408 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that NKN 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 NKN
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
TRON
TRX
|
0.05928704 |
details, prediction |
UNUS SED LEO
LEO
|
0.08722817 |
details, prediction |
Binance Coin
BNB
|
0.118908025 |
details, prediction |
ZCash
ZEC
|
0.1234193 |
details, prediction |
Bitcoin
BTC
|
0.15008669 |
details, prediction |
|
Second tier
|
Decred
DCR
|
-0.5326845 |
details, prediction |
DigiByte
DGB
|
0.011394906 |
details, prediction |
Zilliqa
ZIL
|
0.03321383 |
details, prediction |
Verge
XVG
|
0.073118284 |
details, prediction |
Dai
DAI
|
0.07964714 |
details, prediction |
|
Third tier
|
LAToken
LA
|
-0.783189 |
details, prediction |
NEM
XEM
|
-0.18051164 |
details, prediction |
BABB
BAX
|
-0.13656236 |
details, prediction |
HEROcoin
PLAY
|
-0.12749009 |
details, prediction |
Enjin Coin
ENJ
|
-0.068352915 |
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)