ALGO ALGO / MDT Crypto vs ALGO ALGO / USD Crypto vs PROMPT PROMPT / 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: 0.405 - Moderate Positive
Moved in same direction 221 days (64.6%) • Opposite direction 121 days • 342 data points
ALGO vs PROMPT: 0.152 - Weak/No Correlation
Moved in same direction 120 days (55.8%) • Opposite direction 95 days • 215 data points
ALGO vs PROMPT: 0.403 - Moderate Positive
Moved in same direction 158 days (73.5%) • Opposite direction 57 days • 216 data points

Overall Statistics:

Average Correlation: 0.320

Highest Correlation: 0.405

Lowest Correlation: 0.152

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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PROMPT 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
PROMPT: Kraken
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