ALGO ALGO / MDAO Crypto vs F F / USD Crypto vs PENGU PENGU / 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 F: 0.214 - Weak/No Correlation
Moved in same direction 199 days (64.2%) • Opposite direction 111 days • 310 data points
ALGO vs PENGU: 0.261 - Weak/No Correlation
Moved in same direction 176 days (68.5%) • Opposite direction 81 days • 257 data points
F vs PENGU: 0.120 - Weak/No Correlation
Moved in same direction 168 days (65.4%) • Opposite direction 89 days • 257 data points

Overall Statistics:

Average Correlation: 0.198

Highest Correlation: 0.261

Lowest Correlation: 0.120

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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F Correlation Chart Daily Correlations

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PENGU 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
F: Bybit
PENGU: Kraken
ByBit Futures Trading Trade hundreds of crypto perpetual futures