Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum
ETH
|
0.5932791 |
details, prediction |
Litecoin
LTC
|
0.55033803 |
details, prediction |
Bitcoin Cash
BCH
|
0.5290825 |
details, prediction |
Bitcoin
BTC
|
0.4489915 |
details, prediction |
ChainLink
LINK
|
0.42495534 |
details, prediction |
|
Second tier
|
Bitcoin Gold
BTG
|
0.76537186 |
details, prediction |
DigiByte
DGB
|
0.65587527 |
details, prediction |
HoloToken
HOT
|
0.6135879 |
details, prediction |
Decred
DCR
|
0.6130896 |
details, prediction |
Bitcoin SV
BSV
|
0.6126582 |
details, prediction |
|
Third tier
|
SysCoin
SYS
|
0.87158585 |
details, prediction |
Hydro Protocol
HOT
|
0.64028287 |
details, prediction |
Propy
PRO
|
0.5833094 |
details, prediction |
Electroneum
ETN
|
0.5095296 |
details, prediction |
Dero
DERO
|
0.5054562 |
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
|
Stellar
XLM
|
-0.4291515 |
details, prediction |
ZCash
ZEC
|
-0.14260726 |
details, prediction |
TRON
TRX
|
-0.0684739 |
details, prediction |
Binance Coin
BNB
|
0.017032031 |
details, prediction |
Dogecoin
DOGE
|
0.12827563 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.7687524 |
details, prediction |
OriginTrail
TRAC
|
-0.5968948 |
details, prediction |
Telcoin
TEL
|
-0.4984032 |
details, prediction |
USD//Coin
USDC
|
-0.3900804 |
details, prediction |
Cosmos
ATOM
|
-0.2957476 |
details, prediction |
|
Third tier
|
OPEN Platform
OPEN
|
-0.2050868 |
details, prediction |
Matrix AI Network
MAN
|
-0.0117905615 |
details, prediction |
BABB
BAX
|
-0.004626232 |
details, prediction |
Constellation
DAG
|
0.102531016 |
details, prediction |
V Systems
VSYS
|
0.12336776 |
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)