What is crypto correlation?

Correlation measures how closely two coins' daily moves line up, from −1 (one rises exactly when the other falls) through 0 (no link) to +1 (they rise and fall together). We calculate it from each coin's daily percentage returns over the days both have a close.

Which crypto is least correlated with Bitcoin?

Over the last 90 days it is HBAR at 0.38; over all our data see the table above (select the Bitcoin heading to rank every coin against it). Rankings move from quarter to quarter, so check the window you care about.

Does holding several coins diversify risk?

Less than it looks. The average pair of the largest coins has a correlation of 0.54 across all our data and 0.54 over the last 90 days, so most coins tend to fall on the days Bitcoin falls. Correlations also tend to rise in sharp sell-offs, which is when diversification is wanted most.

What counts as a high correlation?

Roughly: above 0.8 is very strong, 0.6 to 0.8 strong, 0.4 to 0.6 moderate, 0.2 to 0.4 weak, and under 0.2 close to none. These are rules of thumb; the number only describes the period measured.

Why correlate returns and not prices?

Two prices that both trend upward over years look correlated even if their day-to-day moves are unrelated. Using daily returns removes the trend and asks the real question: when one coin has a good or bad day, does the other?

Crypto correlation matrix: which coins move together

How closely the 20 largest coins move day to day, over the last 30 days, 90 days, year or everything we hold. Select a coin to rank every other coin against it, hover a cell for all four windows, and watch how the link with Bitcoin has changed over time.

What stands out

Over the last 90 days the average pair of the 20 largest coins had a correlation of 0.54, a moderate link. Across all our data the average pair is 0.54.
Against Bitcoin, the other coins average 0.64 over 90 days: XRP moves most like it (0.87) and HBAR least (0.38).
Coins that have traded since 2019 were most in step in 2022 (average pair 0.75) and least in 2021 (0.48).
The pair that has moved least together over all our data is TRX and TAO (0.16); the one that has moved most is BTC and ETH (0.82).

Correlation of daily percentage returns from Binance closes to 6 Oct 2026, measured over the days each pair shares. It describes how coins moved together, not whether one drives the other, and it changes: the same pair can be tightly linked in one quarter and loosely in the next.

The correlation matrix

1.00 means two coins rose and fell together every day; 0 means no link; −1 the opposite. A dash means the pair shares too few days.

Measured over

Average pair: 0.54
Alts with Bitcoin: 0.64
Most like Bitcoin: XRP 0.87
Least like Bitcoin: HBAR 0.38


BTC	·	0.87	0.70	0.87	0.83	0.42	0.54	0.81	0.66	0.77	0.73	0.40	0.56	0.59	0.47	0.47	0.67	0.38	0.68	0.69
ETH	0.87	·	0.65	0.77	0.81	0.35	0.52	0.71	0.73	0.67	0.71	0.42	0.46	0.56	0.44	0.47	0.61	0.38	0.58	0.64
BNB	0.70	0.65	·	0.72	0.68	0.44	0.46	0.80	0.59	0.68	0.62	0.38	0.45	0.61	0.56	0.42	0.66	0.29	0.57	0.59
XRP	0.87	0.77	0.72	·	0.76	0.44	0.55	0.87	0.65	0.81	0.81	0.43	0.61	0.60	0.50	0.51	0.72	0.45	0.65	0.71
SOL	0.83	0.81	0.68	0.76	·	0.38	0.55	0.76	0.70	0.71	0.68	0.54	0.49	0.57	0.52	0.44	0.71	0.32	0.74	0.64
TRX	0.42	0.35	0.44	0.44	0.38	·	0.33	0.42	0.34	0.40	0.41	0.27	0.18	0.25	0.04	0.22	0.30	0.28	0.36	0.31
ZEC	0.54	0.52	0.46	0.55	0.55	0.33	·	0.51	0.53	0.55	0.51	0.61	0.57	0.45	0.48	0.30	0.42	0.22	0.42	0.47
DOGE	0.81	0.71	0.80	0.87	0.76	0.42	0.51	·	0.69	0.83	0.79	0.41	0.60	0.69	0.52	0.49	0.82	0.42	0.76	0.79
LINK	0.66	0.73	0.59	0.65	0.70	0.34	0.53	0.69	·	0.63	0.79	0.40	0.42	0.63	0.40	0.41	0.62	0.62	0.63	0.58
ADA	0.77	0.67	0.68	0.81	0.71	0.40	0.55	0.83	0.63	·	0.71	0.49	0.63	0.66	0.55	0.50	0.74	0.42	0.61	0.69
XLM	0.73	0.71	0.62	0.81	0.68	0.41	0.51	0.79	0.79	0.71	·	0.40	0.46	0.65	0.39	0.45	0.68	0.68	0.65	0.65
NEAR	0.40	0.42	0.38	0.43	0.54	0.27	0.61	0.41	0.40	0.49	0.40	·	0.39	0.41	0.46	0.35	0.56	0.14	0.46	0.42
BCH	0.56	0.46	0.45	0.61	0.49	0.18	0.57	0.60	0.42	0.63	0.46	0.39	·	0.53	0.57	0.34	0.50	0.29	0.41	0.58
LTC	0.59	0.56	0.61	0.60	0.57	0.25	0.45	0.69	0.63	0.66	0.65	0.41	0.53	·	0.46	0.30	0.63	0.33	0.50	0.59
UNI	0.47	0.44	0.56	0.50	0.52	0.04	0.48	0.52	0.40	0.55	0.39	0.46	0.57	0.46	·	0.31	0.48	0.17	0.43	0.42
AVAX	0.47	0.47	0.42	0.51	0.44	0.22	0.30	0.49	0.41	0.50	0.45	0.35	0.34	0.30	0.31	·	0.55	0.24	0.47	0.52
SUI	0.67	0.61	0.66	0.72	0.71	0.30	0.42	0.82	0.62	0.74	0.68	0.56	0.50	0.63	0.48	0.55	·	0.33	0.76	0.68
HBAR	0.38	0.38	0.29	0.45	0.32	0.28	0.22	0.42	0.62	0.42	0.68	0.14	0.29	0.33	0.17	0.24	0.33	·	0.35	0.32
TAO	0.68	0.58	0.57	0.65	0.74	0.36	0.42	0.76	0.63	0.61	0.65	0.46	0.41	0.50	0.43	0.47	0.76	0.35	·	0.60
SHIB	0.69	0.64	0.59	0.71	0.64	0.31	0.47	0.79	0.58	0.69	0.65	0.42	0.58	0.59	0.42	0.52	0.68	0.32	0.60	·

Amber: moves together. Blue: moves apart. Select a coin heading to sort every row by its link to that coin.

Move together most

BTC · XRP0.87
XRP · DOGE0.87
BTC · ETH0.87
DOGE · ADA0.83
BTC · SOL0.83
DOGE · SUI0.82

Move together least

TRX · UNI0.04
NEAR · HBAR0.14
UNI · HBAR0.17
TRX · BCH0.18
ZEC · HBAR0.22
TRX · AVAX0.22

How the link with Bitcoin has changed

The correlation with Bitcoin over the 90 days up to each date. Pick up to three coins; a line near 1 is a coin that has been shadowing Bitcoin, a dip is a stretch of trading on its own news.

Rolling 90-day correlation with Bitcoin

Hover or touch the chart for the reading on a day.

Are coins moving more in step over time?

The average correlation between every pair of the coins that have traded since 2019, calendar year by calendar year. The same coins are in every bar, so the years can be compared.

Questions

What is crypto correlation?: Correlation measures how closely two coins' daily moves line up, from −1 (one rises exactly when the other falls) through 0 (no link) to +1 (they rise and fall together). We calculate it from each coin's daily percentage returns over the days both have a close.
Which crypto is least correlated with Bitcoin?: Over the last 90 days it is HBAR at 0.38; over all our data see the table above (select the Bitcoin heading to rank every coin against it). Rankings move from quarter to quarter, so check the window you care about.
Does holding several coins diversify risk?: Less than it looks. The average pair of the largest coins has a correlation of 0.54 across all our data and 0.54 over the last 90 days, so most coins tend to fall on the days Bitcoin falls. Correlations also tend to rise in sharp sell-offs, which is when diversification is wanted most.
What counts as a high correlation?: Roughly: above 0.8 is very strong, 0.6 to 0.8 strong, 0.4 to 0.6 moderate, 0.2 to 0.4 weak, and under 0.2 close to none. These are rules of thumb; the number only describes the period measured.
Why correlate returns and not prices?: Two prices that both trend upward over years look correlated even if their day-to-day moves are unrelated. Using daily returns removes the trend and asks the real question: when one coin has a good or bad day, does the other?

Disclaimer: This page is educational and does not constitute financial advice. It describes past price moves from daily closes on Binance to October 6, 2026. Past correlations do not predict future ones. Cryptocurrency prices are volatile; never invest more than you can afford to lose.