ALGO ALGO / BIT Crypto vs A A / USD Crypto vs TOKEN TOKEN / USD Crypto

Correlation How Assets Move Together

Correlation measures how closely two assets' prices move together. A correlation of +1.0 means they move perfectly in sync, 0 means no relationship, and -1.0 means they move in opposite directions. Understanding correlation helps with portfolio diversification and risk management.

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Correlation Summary

ALGO vs A: 0.111 - Weak/No Correlation
Moved in same direction 37 days (48.1%) • Opposite direction 40 days • 78 data points
ALGO vs TOKEN: 0.231 - Weak/No Correlation
Moved in same direction 156 days (58.6%) • Opposite direction 110 days • 267 data points
A vs TOKEN: 0.829 - Very Strong Positive
Moved in same direction 67 days (87.0%) • Opposite direction 10 days • 78 data points

Overall Statistics:

Average Correlation: 0.390

Highest Correlation: 0.829

Lowest Correlation: 0.111

Interpreting Correlation Values:
  • +0.8 to +1.0: Very strong positive - assets move together almost in lockstep
  • +0.6 to +0.8: Strong positive - assets often move in the same direction
  • +0.3 to +0.6: Moderate positive - some tendency to move together
  • -0.3 to +0.3: Weak or no correlation - movements are largely independent
  • -0.6 to -0.3: Moderate negative - some tendency to move in opposite directions
  • -1.0 to -0.6: Strong negative - assets frequently move opposite to each other

Note: Correlation measures linear relationships in price movements. Low correlation between assets can be beneficial for diversification, as losses in one asset may be offset by gains in another.

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ALGO Correlation Chart Daily Correlations

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A Correlation Chart Daily Correlations

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TOKEN Correlation Chart Daily Correlations

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Learn More

This page focused on correlation between the selected assets. You might also want to check out the overview, comprehensive stats, historical, volatility, and price projection pages.

Data sources

ALGO: Kraken
A: Kraken
TOKEN: Kraken
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