Crypto correlations
How closely each coin's daily moves follow Bitcoin. 1 means they move together, 0 means no link, and a negative number means they tend to move in opposite directions.
The biggest coins against each other, 30 days
| Coin | 30 days | 90 days | |
|---|---|---|---|
Pearson correlation of daily returns, from Binance spot USDT pairs. A low number can help a portfolio spread risk, but correlations jump towards 1 in a crash.
About correlation
- What does a correlation of 0.9 mean?
- On most days the coin moved in the same direction as Bitcoin, by a similar amount. 0 means no link, and a negative number means it tended to move the opposite way.
- Why does it matter?
- If every coin you hold has a correlation near 1 with Bitcoin, your portfolio behaves like one big Bitcoin position. Coins with lower correlation spread the risk, at least in normal markets.
- How is it calculated?
- We take the daily percentage change of each coin and of Bitcoin over the last 30 or 90 days, on the same days, and compute the Pearson correlation between the two series.