Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
ChainLink
LINK
|
0.9569497 |
details, prediction |
XRP
XRP
|
0.9475516 |
details, prediction |
Bitcoin
BTC
|
0.9431132 |
details, prediction |
Dogecoin
DOGE
|
0.94262874 |
details, prediction |
Ethereum Classic
ETC
|
0.9404174 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.9564356 |
details, prediction |
Zilliqa
ZIL
|
0.955204 |
details, prediction |
Horizen
ZEN
|
0.9509641 |
details, prediction |
iEx.ec
RLC
|
0.95021087 |
details, prediction |
Ravencoin
RVN
|
0.9220245 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.966252 |
details, prediction |
Kyber Network
KNC
|
0.95472753 |
details, prediction |
SwftCoin
SWFTC
|
0.9499733 |
details, prediction |
Civic
CVC
|
0.94418687 |
details, prediction |
Internet of Services
IOST
|
0.9415647 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Synthetix Network Token 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 Synthetix Network Token
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.46125567 |
details, prediction |
ZCash
ZEC
|
0.036899064 |
details, prediction |
TRON
TRX
|
0.26787826 |
details, prediction |
Binance Coin
BNB
|
0.73598945 |
details, prediction |
Monero
XMR
|
0.8133005 |
details, prediction |
|
Second tier
|
USD//Coin
USDC
|
-0.7644572 |
details, prediction |
True USD
TUSD
|
-0.60746795 |
details, prediction |
Dai
DAI
|
-0.5965001 |
details, prediction |
Telcoin
TEL
|
0.0148385335 |
details, prediction |
OriginTrail
TRAC
|
0.27932778 |
details, prediction |
|
Third tier
|
Komodo
KMD
|
-0.5175275 |
details, prediction |
FunFair
FUN
|
-0.4385528 |
details, prediction |
V Systems
VSYS
|
-0.19169007 |
details, prediction |
Propy
PRO
|
-0.1255803 |
details, prediction |
Matrix AI Network
MAN
|
-0.11981728 |
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)