Live · daily closes
Correlation
Two coins, and how their day-to-day moves lined up: the correlation, the beta of each on the other, how often they closed the same way, and each coin’s realized volatility on the same pairs. Realized volatility of one coin is on volatility.
About this desk
- What you use it for
- Type two coins when you want to know whether their daily moves travelled together. Switch 30 or 90 days. Use it when a second coin is supposed to diversify the first.
- What the numbers are
- The number is the Pearson correlation of daily log returns on UTC dates both coins printed, and only when those dates are one day apart. Beta is how many times one coin’s daily log move lined up with the other’s. Same sign is the share of those days that moved the same way. Each realized figure uses that same set of pairs. 1 is lockstep, −1 is opposite, 0 is no straight-line relationship.
- What it leaves out
- A high number is not a hedge and does not say tomorrow will match. Missing days are dropped instead of stretched. Two names that resolve to the same coin are refused.
Every desk is introduced the same way on the desk list.
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