M M / PYTH Crypto vs UNI UNI / PYTH Crypto vs XRPRL XRPRL / PYTH 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

M vs UNI: 0.290 - Weak/No Correlation
Moved in same direction 80 days (57.6%) • Opposite direction 59 days • 140 data points
M vs XRPRL: 0.392 - Moderate Positive
Moved in same direction 75 days (54.0%) • Opposite direction 64 days • 140 data points
UNI vs XRPRL: 0.610 - Strong Positive
Moved in same direction 156 days (67.5%) • Opposite direction 75 days • 232 data points

Overall Statistics:

Average Correlation: 0.431

Highest Correlation: 0.610

Lowest Correlation: 0.290

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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M Correlation Chart Daily Correlations

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UNI Correlation Chart Daily Correlations

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XRPRL 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

M: Kraken
UNI: Kraken
XRPRL: Kraken
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