API3 API3 / GSWIFT Crypto vs METIS METIS / 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

API3 vs METIS: 0.219 - Weak/No Correlation
Moved in same direction 116 days (63.7%) • Opposite direction 66 days • 183 data points
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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API3 Correlation Chart Daily Correlations

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METIS 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

API3: Kraken
METIS: Kraken
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