Correlation

A “diversified” 10-coin portfolio is usually one bet on BTC dressed up as ten bets.

When BTC dumps, almost everything dumps with it, often harder. The matrix below shows the realized 90-day correlation between log-returns of our 10-coin universe, computed from real Binance candles. Spend ten seconds on it.

Most correlated

ETH · LINK0.90
XRP · LINK0.89
BTC · ETH0.88
ETH · XRP0.88

Least correlated

BNB · DOT0.58
BNB · AVAX0.60
BNB · ADA0.64
BNB · DOGE0.65

Show the full 90-day correlation matrix

10×10 heatmap · n=90 days · updated 7/24/2026

	BTC	ETH	SOL	BNB	XRP	ADA	AVAX	LINK	DOGE	DOT
BTC	—	0.88	0.82	0.72	0.86	0.74	0.66	0.84	0.74	0.66
ETH	0.88	—	0.84	0.67	0.88	0.76	0.72	0.90	0.77	0.72
SOL	0.82	0.84	—	0.69	0.84	0.78	0.79	0.86	0.69	0.72
BNB	0.72	0.67	0.69	—	0.69	0.64	0.60	0.72	0.65	0.58
XRP	0.86	0.88	0.84	0.69	—	0.81	0.73	0.89	0.77	0.77
ADA	0.74	0.76	0.78	0.64	0.81	—	0.71	0.81	0.74	0.74
AVAX	0.66	0.72	0.79	0.60	0.73	0.71	—	0.77	0.67	0.76
LINK	0.84	0.90	0.86	0.72	0.89	0.81	0.77	—	0.79	0.83
DOGE	0.74	0.77	0.69	0.65	0.77	0.74	0.67	0.79	—	0.73
DOT	0.66	0.72	0.72	0.58	0.77	0.74	0.76	0.83	0.73	—

Color scale:≥ 0.85 high0.70 - 0.850.50 - 0.700.30 - 0.50< 0.30 low

How we computed it: methodology. See it informing live trades:

Live proof →Calibration