ALGO ALGO / NODE Crypto vs F F / USD Crypto vs INDEX INDEX / 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 F: 0.164 - Weak/No Correlation
Moved in same direction 47 days (67.1%) • Opposite direction 23 days • 70 data points
ALGO vs INDEX: 0.166 - Weak/No Correlation
Moved in same direction 31 days (50.8%) • Opposite direction 30 days • 69 data points
F vs INDEX: 0.143 - Weak/No Correlation
Moved in same direction 175 days (61.6%) • Opposite direction 109 days • 306 data points

Overall Statistics:

Average Correlation: 0.157

Highest Correlation: 0.166

Lowest Correlation: 0.143

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...

F Correlation Chart Daily Correlations

Generating chart description...

INDEX 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
F: Bybit
INDEX: Coinbase
ByBit Futures Trading Trade hundreds of crypto perpetual futures