AUD AUD / FTT Crypto vs C C / FTT Crypto vs JOE JOE / FTT 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

AUD vs C: 0.518 - Moderate Positive
Moved in same direction 49 days (59.0%) • Opposite direction 34 days • 83 data points
AUD vs JOE: 0.538 - Moderate Positive
Moved in same direction 52 days (55.3%) • Opposite direction 42 days • 94 data points
C vs JOE: 0.590 - Moderate Positive
Moved in same direction 57 days (68.7%) • Opposite direction 26 days • 83 data points

Overall Statistics:

Average Correlation: 0.549

Highest Correlation: 0.590

Lowest Correlation: 0.518

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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AUD Correlation Chart Daily Correlations

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C Correlation Chart Daily Correlations

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JOE 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

AUD: Kraken
C: Binance
JOE: Kraken
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