Highly correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Bitcoin
BTC
|
0.8980895 |
details, prediction |
ChainLink
LINK
|
0.87384003 |
details, prediction |
Dogecoin
DOGE
|
0.8362205 |
details, prediction |
Ethereum Classic
ETC
|
0.8301647 |
details, prediction |
KuCoin Shares
KCS
|
0.802263 |
details, prediction |
|
Second tier
|
Synthetix Network Token
SNX
|
0.8674537 |
details, prediction |
Zilliqa
ZIL
|
0.8660385 |
details, prediction |
iEx.ec
RLC
|
0.85404193 |
details, prediction |
0x
ZRX
|
0.8445809 |
details, prediction |
Decentraland
MANA
|
0.8096155 |
details, prediction |
|
Third tier
|
Stox
STX
|
0.8346631 |
details, prediction |
LAToken
LA
|
0.8099242 |
details, prediction |
ICON
ICX
|
0.80341893 |
details, prediction |
Bancor
BNT
|
0.7995294 |
details, prediction |
Storj
STORJ
|
0.7971065 |
details, prediction |
This report should be leaned to get most info about heading trends.
It means that Horizen 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 Horizen
Low correlated currencies
| Coin |
Correlation |
Links |
|
First tier
|
Stellar
XLM
|
-0.43793666 |
details, prediction |
TRON
TRX
|
0.06777263 |
details, prediction |
ZCash
ZEC
|
0.34949133 |
details, prediction |
Binance Coin
BNB
|
0.4352188 |
details, prediction |
Bitcoin Cash
BCH
|
0.5936255 |
details, prediction |
|
Second tier
|
Dai
DAI
|
-0.7288584 |
details, prediction |
USD//Coin
USDC
|
-0.6622873 |
details, prediction |
True USD
TUSD
|
-0.15388297 |
details, prediction |
OriginTrail
TRAC
|
-0.11047715 |
details, prediction |
Telcoin
TEL
|
0.062294435 |
details, prediction |
|
Third tier
|
FunFair
FUN
|
-0.54985285 |
details, prediction |
NKN
NKN
|
0.011099386 |
details, prediction |
Komodo
KMD
|
0.07656827 |
details, prediction |
Wanchain
WAN
|
0.08178048 |
details, prediction |
Ontology
ONT
|
0.13646983 |
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)