Stock market data not available via free APIs — crypto-only correlation shown. Based on daily returns over 30 days using CoinGecko data.
What Is a Correlation Matrix?
A correlation matrix shows how closely two assets move together over a given time period, measured using the Pearson correlation coefficient ranging from −1 to +1. A score of +1 means the assets move perfectly in sync; 0 means no relationship; −1 means they move in perfectly opposite directions. For portfolio diversification, you want assets with low or negative correlations — when one falls, the other may hold or rise.
Most major cryptocurrencies are highly correlated — especially during market-wide risk-off events when BTC drops and altcoins follow. This is why holding multiple altcoins alongside Bitcoin often provides less diversification than expected. The 30-day vs 90-day toggle lets you see whether correlations are shifting — diverging correlations can signal independent narratives developing for specific coins.
Compare this matrix with BTC Dominance to understand the macro regime. When dominance is rising, altcoins typically become more correlated with BTC as capital flows toward Bitcoin. Low dominance periods often see altcoins diverge and develop their own correlations based on sector narratives.
Note: Stock market data not available via free APIs — crypto-only correlation shown.