ALGO ALGO / CELR Crypto vs ALGO ALGO / USD Crypto vs PUFFER PUFFER / 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.

Generating...

Settings

Correlation Summary

ALGO vs ALGO: 0.403 - Moderate Positive
Moved in same direction 167 days (48.8%) • Opposite direction 175 days • 342 data points
ALGO vs PUFFER: -0.173 - Weak/No Correlation
Moved in same direction 143 days (41.8%) • Opposite direction 199 days • 342 data points
ALGO vs PUFFER: 0.388 - Moderate Positive
Moved in same direction 250 days (73.1%) • Opposite direction 92 days • 342 data points

Overall Statistics:

Average Correlation: 0.206

Highest Correlation: 0.403

Lowest Correlation: -0.173

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.

Calculating... Calculating... Calculating...

ALGO Correlation Chart Daily Correlations

Generating chart description...

ALGO Correlation Chart Daily Correlations

Generating chart description...

PUFFER Correlation Chart Daily Correlations

Generating chart description...

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
ALGO: Kraken
PUFFER: Kraken
ByBit Futures Trading Trade hundreds of crypto perpetual futures