Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Ethereum Classic
ETC
|
0.9074931 |
details, prediction |
Dogecoin
DOGE
|
0.8829862 |
details, prediction |
Bitcoin Cash
BCH
|
0.84179384 |
details, prediction |
KuCoin Shares
KCS
|
0.8051332 |
details, prediction |
Cardano
ADA
|
0.65086645 |
details, prediction |
|
Second tier
|
NEO
NEO
|
0.9683997 |
details, prediction |
Tezos
XTZ
|
0.9447006 |
details, prediction |
Theta Fuel
TFUEL
|
0.9316513 |
details, prediction |
Ravencoin
RVN
|
0.93069273 |
details, prediction |
iEx.ec
RLC
|
0.9283804 |
details, prediction |
|
Third tier
|
Kyber Network
KNC
|
0.9665365 |
details, prediction |
ARK
ARK
|
0.9577182 |
details, prediction |
Civic
CVC
|
0.95753336 |
details, prediction |
Steem
STEEM
|
0.9392016 |
details, prediction |
Power Ledger
POWR
|
0.9390972 |
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
|
Monero
XMR
|
-0.040896017 |
details, prediction |
ChainLink
LINK
|
0.1062989 |
details, prediction |
Ethereum
ETH
|
0.14224812 |
details, prediction |
ZCash
ZEC
|
0.2430712 |
details, prediction |
Stellar
XLM
|
0.25898424 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.80519825 |
details, prediction |
USD//Coin
USDC
|
-0.22014071 |
details, prediction |
DigiByte
DGB
|
-0.21761623 |
details, prediction |
True USD
TUSD
|
-0.15710902 |
details, prediction |
Bitcoin SV
BSV
|
0.021131292 |
details, prediction |
|
Third tier
|
Propy
PRO
|
-0.32757673 |
details, prediction |
V Systems
VSYS
|
-0.32670927 |
details, prediction |
NKN
NKN
|
-0.27364075 |
details, prediction |
Phantasma
SOUL
|
0.057167094 |
details, prediction |
Dent
DENT
|
0.19532284 |
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)