Correlation Matrix
See how crypto assets move together. The terminal lets you overlay this with portfolio tracking, watchlists, and real-time analytics.
What correlation measures
Correlation is a statistical score from -1 to +1 that describes how two assets' returns move together. +1 means perfectly in sync (when one goes up, the other always does too), -1 means perfectly opposed, and 0 means no linear relationship. Crypto correlations are rarely at the extremes — most live in the 0.3 to 0.9 range.
How to read the matrix
Darker, more saturated cells are higher correlation; lighter cells are lower or negative. The diagonal is always 1.0 (every asset is perfectly correlated with itself). Look for blocks — clusters of coins that all correlate strongly with each other are effectively the same bet. If your 'diversified' portfolio lights up as a single dark block, you're carrying concentration risk disguised as variety.
Why correlations matter for portfolio construction
Holding 10 coins that all correlate at 0.9 with BTC is not a 10-coin portfolio — it's a 1-coin portfolio with extra steps. Proper diversification requires finding assets that respond to different drivers: stablecoins, coins tied to traditional finance (macro-sensitive majors), memes (narrative-driven), and so on. The matrix is the fastest way to audit whether your basket is actually diversified.
Frequently asked questions
Over what window is correlation computed?
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What does a correlation of +1, 0 or -1 actually mean?
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Do altcoins still correlate heavily with BTC?
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Can I pick custom pairs?
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How often does the matrix refresh?
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