ALGO ALGO / DEEP Crypto vs ALGO ALGO / USD Crypto vs ES ES / 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 ALGO: -0.251 - Weak/No Correlation
Moved in same direction 63 days (39.4%) • Opposite direction 97 days • 160 data points
ALGO vs ES: -0.260 - Weak/No Correlation
Moved in same direction 55 days (47.8%) • Opposite direction 60 days • 119 data points
ALGO vs ES: 0.476 - Moderate Positive
Moved in same direction 77 days (67.0%) • Opposite direction 38 days • 119 data points

Overall Statistics:

Average Correlation: -0.012

Highest Correlation: 0.476

Lowest Correlation: -0.260

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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ALGO Correlation Chart Daily Correlations

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ES 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
ALGO: Kraken
ES: Kraken
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